Real Estate, Spending Are Hurting Growth, According to Fed Beige Book
April 17, 2008
Washington, D.C.–An “anemic” housing market and reduced consumer spending has slowed economic growth in nine of the 12 Federal Reserve districts since February, Bloomberg reports.”Economic conditions have weakened since the last report,” the Fed said in its Beige Book regional business survey. Nine districts reported a lesser economic pace; the other three said activity was…
Washington, D.C.–An “anemic” housing market and reduced consumer spending has slowed economic growth in nine of the 12 Federal Reserve districts since February, Bloomberg reports.”Economic conditions have weakened since the last report,” the Fed said in its Beige Book regional business survey. Nine districts reported a lesser economic pace; the other three said activity was “mixed or steady.”The reports are one component Fed policy makers will use at their late April meeting to decide on interest rates, along with other analysis and data.
