Economy proceeding at modest pace: Beige Book |
| MarketWatch - Oct 19, 2011 |
The U.S. economy continues along about the same modest pace as seen in August, according to a report Wednesday summarizing information from contacts used by the Federal Reserve to measure the strength of the economy.
The economy was expanding, although many areas described the pace of growth as “modest” or “slight.” “Contacts generally noted weaker or less certain outlooks for business conditions,” the report said.
This characterization — laid out in the so-called Beige Book of anecdotal evidence the central bank collects before each interest-rate decision — was not very different from the last report in August which found “economic activity continued to expand at a modest pace, though some districts noted mixed or weakening activity.”
Read Full Article from MarketWatch
- Posted: 2011-10-19 14:16:59
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