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Signs of slow but steady economic stabilization
Fresh data show housing starts up sharply to a 532000 annual pace in May from 454000, with permits at 518000 and multifamily construction driving the gain. Meanwhile the PPI rose 0.2 percent, core PPI down 0.1, and annual wholesale prices fell 5 percent, the largest in nearly 60 years, suggesting a fragile recovery with deflation fears and Fed support.
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