The U.S. economy showed signs of
faster growth during the past six weeks, including a pickup in
manufacturing, the Federal Reserve said in its survey of regional
economies.
“Reports from the twelve Federal Reserve districts provided
additional signs that the pace of economic activity increased a
notch during June and the first half of July,” according to the
report, known as the beige book. The survey found “generally more
positive assessments of current economic activity” and
“increased optimism about economic prospects in coming months.”
Eight of the 12 regional banks reported “somewhat stronger
growth,” the survey said. The Chicago, St. Louis, and San
Francisco districts reported continued “sluggish” activity,
while Atlanta said conditions were mixed. No district said its
economy weakened since the last survey on June 11.
Bloomberg News
