The recovery continues across the Atlantic. But two of the twelve regional branches of the Fed said the pace of activity has slowed recently, Chicago and Atlanta, and two others have found a stable economic situation in Cleveland and Kansas City.
The Beige Book released Wednesday evening by the U.S. Federal Reserve and state is a better overall economy than before.Both at the point of manufacturing and services.
Sightseeing, the report underscores the strong momentum in the areas of San Francisco, New York, Minneapolis, Richmond, Kansas City and Atlanta, although the latter regrets a decline in leisure travel in the Gulf of Mexico, an area affected by the noirée tide.
On the consumer front, consumer spending during the early summer have increased overall, particularly in Dallas, but in most areas, this growth has remained low.
In the property and the trend is less successful.While the tax credit to Etats6unis expired last April 30, the Boston, Philadelphia, Atlanta and Kansas City have suffered declines in construction activity, one can read in the Beige Book.
Finally, employment has gradually improved in several areas, like New York, Chicago, Richmond and Atlanta, but has stagnated for example, Boston and Dallas.
On Wall Street, the investor response is negative. The major indexes have bent the publication of the Beige Book (20 hours, Paris time). In the end, the Dow Jones ended up on a decline of 0.38% to 10,497.96 points, the Nasdaq is up 1.04% to 226.56 points and the S & P by 0.69% to 1106.13 points.
Note that this information valuable as its Chairman of the institution, Bernanke said there just a week before Congress the slow recovery, without announcing new measures to support the economy.Please note that Friday, all eyes will be the publication of the first estimate of U.S. GDP for the second quarter of 2010.
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