Posted June 8, 2011
Fed's Beige Book shows slowing growth
The Federal Reserve's quarterly Beige Book snapshot of the U.S. economy indicates continued growth for most sectors, but at a slowing pace.
Reports from the twelve Federal Reserve districts indicated that economic activity generally continued to expand since the last report, though a few districts indicated some deceleration.
Some slowing in the pace of growth was noted in the New York, Philadelphia, Atlanta, and Chicago districts. In contrast, Dallas characterized that region's economy as accelerating.
Manufacturing activity was reported as continuing to increase since the last report in all but two districts, although many noted that the pace of growth had slowed. The Boston, Atlanta, St. Louis, Minneapolis, and San Francisco districts reported that activity expanded, and the Dallas district reported a pickup in demand; the Philadelphia, Richmond, Chicago, and Kansas City districts reported that activity expanded but at a slower pace, while activity was reported as steady in the New York district and stable to growing in the Cleveland district.
