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Surprising Signs Of Life
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Published: March 26, 2009
New glimmers of hope emerged in economic figures released Wednesday:
•The Commerce Department said orders for durable goods, manufactured products expected to last at least three years, increased 3.4 percent in February, much better than the 2 percent economists had expected. It was the strongest one-month gain in 14 months.
•New home sales rose 4.7 percent in February, the Commerce Department said, although sales still were the second-worst on record.
•Mortgage applications jumped 32 percent last week as record low interest rates spurred a surge in demand for home refinancing loans, the Mortgage Bankers Association said.
Sources: The Associated Press, Reuters
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