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ASA: Fed Reports U.S. Economy Continues Moderate Growth Trend

American Staffing Association (07/18/13) Alexandra Karaer

The nation’s economy continued to improve at a “modest to moderate pace,” according to the Federal Reserve Board’s latest report on regional economies (known as the “beige book”). Reports from the 12 federal reserve districts showed that overall economic activity expanded from late May through early July, bolstered mostly by the housing recovery, consumers, and more factory output. Hiring held steady or increased at a “measured pace” in most districts, with some contacts noting a reluctance to hire permanent or full-time workers. Wage pressures were generally contained, and price pressures remained stable.