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

It's Time For Comic-Con!

The annual pop culture convention underway in San Diego is not just for comic books — it brings the biggest stars from film, television and books together with their fans to talk about upcoming, and vintage, work.
NPR

The Weird, Underappreciated World Of Plastic Packaging

So much of the food we eat these days is encased in plastic. And behind it is a whole lot of research and innovation. We dive into some of the materials that keep food fresh and portable.
NPR

The GOP's New Plan To Tackle Poverty: Helpful Or Hurtful?

Republican Congressman Paul Ryan has a new plan to address poverty. Host Michel Martin talks with commentators Corey Ealons and Ron Christie about it and other political stories of the week.
NPR

The Weird, Underappreciated World Of Plastic Packaging

So much of the food we eat these days is encased in plastic. And behind it is a whole lot of research and innovation. We dive into some of the materials that keep food fresh and portable.

Leave a Comment

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