September 8, 2010 by staff
Beige Book, WASHINGTON (Reuters) – The U.S. Federal Reserveobserved “widespread signs” that economic growth had declined inthe six weeks until late August, said in a report suggesting the recovery was faltering Wednesdayin along the coast and Midwest theEast.
The Fed said in its Beige Book anecdotalreports build a modest continued growth in the westerndistricts five: St. Louis, Minneapolis, Kansas City, Dallas and SanFrancisco.
At the same time, growth was mixed or had decreased fiveother areas: New York, Philadelphia, Richmond, Atlanta, and andChicago.
The other two districts, Boston and Cleveland reportedpositive developments and improvements in the business.
Upward pressure on prices was relatively limited for mostcategories of goods and services, and alsosubdued wage pressures, the Fed said. (Reporting by Mark Felsenthal, Editing by Neil Stempleman)
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