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Gains in consumer spending and business investment helped the economy rebound more than forecast in the second quarter following a slump in the prior three months that was smaller than estimated. Gross domestic product rose at a 4 percent annualized rate, the most since the third quarter of 2013, after shrinking 2.1 percent from January through March. The median forecast of 80 economists called for a 3 percent advance. Consumer spending, the biggest part of the economy, rose 2.5 percent. [Full Story]
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Russia's central bank said it's ready to help lenders targeted by the U.S. and Europe in their latest round of sanctions, as Dutch experts again abandoned an attempt to visit the crash site of Malaysian Air Flight 17. [Full Story]
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Sluggish home prices and sales signal a sluggish home market in general, says Nobel laureate economist Robert Shiller of Yale University. [Full Story]

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