Economy Expanding At Moderate Rate, Fed Says | WAMU 88.5 - American University Radio

NPR : News

Filed Under:

Economy Expanding At Moderate Rate, Fed Says

The U.S. economy held steady with "modest to moderate" growth between early July and late August, as Americans bought more cars and auto factories ramped up hiring.

The Federal Reserve's so-called Beige Book, comprising reports from 12 geographic districts around the country, showed that manufacturing activity "expanded modestly" and several districts ... [expressing] that demand for inputs related to autos, housing, and infrastructure were strong."

"Chicago highlighted the auto industry as a main source of strength for that District's overall manufacturing sector, and contacts there expect demand for heavy and medium trucks to ratchet up further and to support growth in overall manufacturing for the remainder of the year."

The Associated Press says: "Recent economic data has been mixed, but not weak enough to suggest any upset to a sluggish recent recovery, which is slowly bringing down unemployment."

The Beige Book report pointed also to activity in the real estate, with "rising home prices and mortgage interest rates may have spurred a pickup in recent market activity, as many "fence sitters" were prompted to commit to purchases. and construction sector, an uptick in tourism and a modest improvement in the nonfinancial services sector.

Hiring, it said, held steady or increased somewhat in most regions, with St. Louis in particular reporting increases in employment in manufacturing.

Copyright 2013 NPR. To see more, visit http://www.npr.org/.

NPR

A Puzzle With Ch-Ch-Changes

Every answer is a word starting with "ch," and your clue will be an anagram of the word.
NPR

What If The World Cup Were Awarded For Saving Trees And Drinking Soda?

We thought you'd get a kick out of seeing how the four teams in the final World Cup matches stack up in global health and development.
NPR

What Will Become Of Obama's Request For Immigration Relief Funds?

NPR's Arun Rath talks to political correspondent Mara Liasson about the chances of a political agreement over how to handle the migration of thousands of Central American children.
NPR

Looking For Free Sperm, Women May Turn To Online Forums

Bypassing commercial sperm banks, thousands are logging on to websites where women can connect with men at no cost. Anecdotes abound, but the scope of the unregulated activity is unclear.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.