U.S. grew 'gradually' last month: Beige Book - MarketWatch
The U.S. economy grew "gradually" last month, as improving retail and
other service-sector activity was weighed down by softening activity in
manufacturing, according to a collection of anecdotes released by the
Federal Reserve Wednesday. The so-called Beige Book said activity
expanded gradually in July and early August across most regions and
sectors, compared to the previous assessment of "modest to moderate"
growth. The report, based on information collected on or before Aug. 20,
showed 6 of the 12 Fed districts with "modest" growth and 3 with
"moderate" growth. The previous Beige Book showed 3 districts growing at
a "modest" pace and 5 growing at a "moderate" race.
NO QE3
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