The American economy is doing better, but there are still some concerns. That was the conclusion of the Federal Reserve on Wednesday
as it released the Beige Book report on economic conditions in the various Fed districts in the country.
“While the overall tone [of the economy] was positive, a few districts expressed qualifications about the pace of the recovery or the strength of their regional economies,” said the report. Some areas reported the pace of their economic recovery has slowed lately, while other areas are still weak.
The report also noted retail sales increased or held steady in most districts, and all districts reported stable or improved manufacturing conditions. “Manufacturers' capital spending plans, however, remained limited,” according to the report. “Residential real estate activity was strong in most districts, as both home sales and construction increased.”
The report and other economic data will be used by Fed officials when they meet May 7 to discuss interest rates.
You can read the full text of the beige book report by logging on to the Federal Reserve web site.