September 10, 2009
More Signs of Economic Recovery
Named for the color of its cover, the Federal Reserve’s Beige Book reports the economy is stabilizing. The report, released Wednesday, is the result of a survey of business contacts in the 12 Federal Reserve banking districts across the country.
While retail inventories and consumer spending remain relatively flat, inflation remains stable and hiring of temporary workers has increased slightly in some areas. Some economists are expecting economic growth through year-end, following four quarters of negative growth.
Optimism centers on in improvement in the manufacturing sector and residential real estate. This, along with historically low interest rates and statements by some economists that the recession may have ended in August is good news for both buyers and sellers - there are good values for qualified buyers and good buyers for value-priced properties; and cautious optimism for the economy in general.
Posted by:
Janet Giovannetti
Tagged With:
economic recovery,
economists,
federal reserve beige book,
interest rates,
residential real estate
and retail inventories
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