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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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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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