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economic recovery

U.S. new home sales hint at prolonged housing weakness

"Sales of new U.S. single-family homes tumbled to their lowest level in eight months in March, dashing hopes for a quick turnaround for a sector that fell into a soft patch last summer.

"The Commerce Department said on Wednesday sales dropped 14.5 percent to a seasonally adjusted annual rate of 384,000 units. It was the second consecutive monthly decline and the biggest since July, which was also the last time sales were so slow.

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