Beige Book: Economic Conditions Continue To Improve

Economic conditions continued to improve across much of the country in late October and early November, but a weak labor market and deteriorating commercial real-estate sector remain dark spots in the U.S. recovery.

In its latest beige book report, the Federal Reserve said conditions across many of its 12 districts have "improved modestly."

Consumer spending has risen, home sales picked up and upward wage pressures were subdued, the Fed said.

In Atlanta, merchants were reporting better-than-expected sales. But in Boston, retailers picked up on an increasing frugality among customers, joining others around the country cutting back on inventory levels even as the holiday shopping season approaches.

Read Full Article from Wall Street Journal

- Posted: 2009-12-02 14:30:57

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