Fed's 'beige book' shows improvement in U.S. economy, moderate growth |
| Washington Post - Mar 2, 2011 |
The economy continued growing at a moderate speed at the beginning of 2011, with conditions improving gradually in a wide range of industries, according to a new report from the Federal Reserve.
The pace of expansion was "modest to moderate" in January and early February, according to the "beige book," an eight-times-a-year compilation of anecdotal reports about the economy issued by the Fed. It represents an improvement from the previous installment of the report, issued in mid-January.
The details of the latest beige book, which is prepared in advance of each Fed policy meeting to help leaders of the central bank set monetary policy, show a broadening recovery. For example, retail sales were said to have increased in 10 of the 12 Federal Reserve districts, despite the impact of snowstorms in large parts of the country. Six of the 12 experienced improvement in the long-suffering commercial real estate sector. And 11 of the 12 "experienced solid growth in manufacturing production."
Read Full Article from Washington Post
- Posted: 2011-03-02 14:24:44
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