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Federal Reserve Report: Continued Moderate Growth in U.S. Economy

American Staffing Association (06/06/13) Alex Karaer

According to the latest report issued by the federal reserve on economic conditions across the 12 U.S. districts (known as the “beige book”), the nation’s economy maintained a “modest to moderate” pace of growth during April and May. Most districts noted moderate gains in consumer spending and an expansion in manufacturing activity. A wide variety of business services reported gains and residential and commercial real estate market activity was positive. Hiring was limited across several districts, with some contacts noting a shortage of skilled workers. Wage pressures were generally contained.