Greece formally requested financial aid from the European Union and the International Monetary Fund to help make a loan repayment due next month. The bailout has been in works for months, but yesterday’s announcement that Greece’s budget deficit was larger than expected forced the issue.
Durable-goods orders and capital spending unexpectedly slipped last month. The decline highlights the fragility of the economic recovery and could provide fodder for policymakers to keep interest rates at depressed levels.
New home sales surged forward in March, rising 26.9% from April as buyers rushed to claim government incentives. Sales were strong across the country and month supply of homes fell to 6.7 from 8.6.
( mixed )
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