[Home] [Headlines] [Latest Articles] [Latest Comments] [Post] [Mail] [Sign-in] [Setup] [Help] [Register]
Status: Not Logged In; Sign In
Economy Title: Fed Banks Saw ‘Widespread Signs of a Deceleration’ in Economy Sept. 8 (Bloomberg) -- The Federal Reserve said the U.S. economy maintained its expansion while showing “widespread signs of a deceleration” in mid-July through the end of August, according to a survey by 12 regional Fed banks. Five regional banks reported “economic growth at a moderate pace” and two pointed to “positive developments or net improvements.” The remaining five banks said conditions were mixed or decelerating. The report underscores the Fed’s view that while the recovery from the worst recession in seven decades has cooled, the economy isn’t relapsing into a contraction. In a speech last month in Jackson Hole, Wyoming, Fed chairman Ben S. Bernanke said “the preconditions for a pickup in growth in 2011 appear to remain in place.” In the previous Beige Book, released July 28, the Fed said “economic activity has continued to increase, on balance.” Two Fed districts reported the economy “generally held steady,” while two others said the pace of growth “had slowed recently.” The regional survey, published two weeks before the Federal Open Market Committee next meets Sept. 21, offers anecdotal evidence that will help central bankers determine whether more stimulus is needed to reduce a jobless rate stuck near a 26-year high and protect a recovery from the deepest recession since the 1930s. The New York Fed reported “signs of decelerating” in the district, including “further deceleration” in manufacturing. The Philadelphia region said business conditions were “mixed,” while the Richmond Fed said “signs of slowing or contracting economic activity became more prevalent.” The Atlanta region’s economy “continued to slow” and Chicago’s “moderated” in July and August, the Beige Book said.
Widespread Signs
Reports received by regional Fed banks “suggested continued growth in national economic activity during the reporting period of mid-July through the end of August, but with widespread signs of a deceleration compared with preceding periods,” today’s report said. The report showed that manufacturing maintained its expansion while showing signs of slowing. Consumer spending “appeared to increase on balance,” though shoppers were limiting purchases of non-essential items. Home sales were “very low” or “declining” in most Fed districts following the expiration of a government tax credit. Caterpillar Inc. may add as many as 9,000 workers worldwide this year, Doug Oberhelman, chief executive officer of the Peoria, Illinois-based company, said last month in a New York meeting with analysts. Caterpillar has added 3,650 employees globally this year as production increased. About 1,250 of those have been in the U.S.
Limited Wage Pressure
Wage pressures were limited, the Fed said, though some districts “noted increased upward pressures in a narrow set of sectors experiencing a mismatch between job requirements and applicant skills.” Private employers added 67,000 jobs in August, more than forecast, and the jobless rate rose to 9.6 percent as more people looked for work. Total payrolls, including government agencies, shrank by 54,000, reflecting the dismissal of temporary workers hired to conduct the 2010 census. Post Comment Private Reply Ignore Thread Top • Page Up • Full Thread • Page Down • Bottom/Latest The Federal Reserve said the U.S. economy maintained its expansion while showing “widespread signs of a deceleration” in mid-July through the end of August, according to a survey by 12 regional Fed banks. The bullshit piles up so fast in this nation you need wings to stay above it. Clinton and Cuomo are the true bandits who lit the fuse to this economic crisis we're now in. All in the name of getting more minorities in houses: http://libertysflame.com/cgi-bin/readart.cgi?ArtNum=12554 #2. To: Nebuchadnezzar (#1) (Edited) What is bullshit? Most incipient signs point to an economy that is growing even if doing so anemically. Why are you rooting against the US economy? I need to look at some of your old LP posts from 2006 and 2007. I have a feeling that you were in absolute denial there. You were on my bozo, IIRC. In a time of universal deceit, telling the truth is a revolutionary act. #3. To: war (#2) Why are you rooting against the US economy? I'm not rooting against it. Unlike you, I have a very low tolerance for people pissing down my back while at the same time telling me it is rain I feel. Clinton and Cuomo are the true bandits who lit the fuse to this economic crisis we're now in. All in the name of getting more minorities in houses: http://libertysflame.com/cgi-bin/readart.cgi?ArtNum=12554 #4. To: Nebuchadnezzar (#1) Ben S. Bernanke said “the preconditions for a pickup in growth in 2011 appear to remain in place.” The preconditions are otherwise known as......November. Hope and change.....we normal people can hope for it too. Death to everybody who does not get outta my way. Below is the latest Dwarf revelation: ...."the shorts and bibs I wear are of a carbon/lycra/nylon composition......and maaaaaannnnnn....just letting everybody know that makes my balls SWELL......I'm just tooooooo sexy for you all!!" ....Dwarf August 2010.............. And one from the bluehair 2-legged GPS "I always get the Carolinas mixed up for some reason." ......Fred Jerx (who will doubtless figure out the intricacy of that tricky "North / South" thing someday. Ahldoafewboners = the kind of person who can say absolutely nothing, and mean it.....aka Regurgitated Clown Floyd Top • Page Up • Full Thread • Page Down • Bottom/Latest |
[Home] [Headlines] [Latest Articles] [Latest Comments] [Post] [Mail] [Sign-in] [Setup] [Help] [Register]
|