The EU and the IMF have agreed to a 110 billion euro rescue of Greece in return for large budget cuts and austerity measures. The bailout eliminates some short-term worries, but the long-term future of the countries economy remains cloudy.
Personal income and consumption rose in March as consumers opened their wallets wider. The savings rate fell to the lowest level in 18 months. The core price index advanced only 0.1% in the month, giving fuel to the Federal Reserve to keep interest rates low.
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