The clearer skies in March lead to an increase in new-home sales according to the Commerce Department. Good news for the housing industry but it was not enough to offset the decline of January and February. The sale of single-family new-homes sold at a seasonally adjusted rate of 858,000. With durable goods big-ticket items rising also it is no wonder the Dow rose to record levels yesterday. Confidence seems high for the moment, though analysts say manufacturing remains under pressure from the slowing economy.
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