2 Reports Point to a Cooling Economy

The Commerce Department reported that single-family home sales tumbled 9.3% in December, the sharpest monthly drop in more than two years. However, the retreat came after a November gain that was the highest in 11 years. Separately, the private Conference Board research group reported that its index of leading economic indicators, a tool for forecasting economic activity, up to nine months in advance, held steady in December. The index had seen gains for five months straight.