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ASA: Fed Continues to Report “Modest to Moderate” Economic Gains

American Staffing Association (09/05/13) Alexandra Karaer

According to the Federal Reserve Board’s latest report on regional economies (known as the “beige book”), the nation’s economy maintained a “modest to moderate” pace of growth from July to mid-August. Consumer spending rose in most districts; activity in the travel and tourism sector expanded in most areas; demand for nonfinancial services increased slightly on net; manufacturing activity expanded modestly; and commercial and residential real estate activity gained overall. For most occupations and industries, hiring held steady or increased modestly. Wage pressures continued to be modest overall.