New-home sales surged 15% in April while orders for durable goods reached a three-month high, indicating that the economic recovery was strengthening ahead of Europe's debt woes. Industry insiders say the recovery has the steam to continue. "The recovery has made a successful transition into a self-sustaining economic expansion," said Mark Zandi, chief economist at Moody's Economy.com. "The economy has enough momentum, strength to digest reasonably gracefully what is going on in Europe."
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