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December 2, 2004 04:23 PM

Fed Reports Growth In 11 Of 12 Regions


Excerpt: Eleven of 12 U.S. regions showed stronger economic growth in the past month, the Federal Reserve reported Wednesday in its Beige Book report on the economy. Only the Cleveland region bucked the improving trend, the Fed said.


Eleven of 12 U.S. regions showed stronger economic growth in the past month, the Federal Reserve reported Wednesday in its Beige Book report on the economy.

Only the Cleveland region bucked the improving trend, the Fed said.

Reports from thousands of contacts in the 12 Federal Reserve regions "generally paint a picture of continued economic growth," the report said.

Retail sales were said to be mixed across regions, while hiring has improved throughout the nation. Price pressures are mounting, especially for energy and industrial materials. Some businesses are passing cost increases onto their business customers, but so far consumers are resisting higher prices.

Manufacturing was healthy in most regions.

"Today's report is overwhelmingly positive in terms of the expansion of the economy across industries and across regions," said Steve Cochrane, an economist for Economy.com. "The breadth of the economy's strengths is unusual."

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Read all 21 posts in the same category of Economy:

U.S. Quiet on China Trade Tax - Dec 17, 2004
Fed Raises Interest Rates for 5th Time This Year - Dec 17, 2004
OPEC Considers Output Cut to Keep Prices From Falling - Dec 09, 2004
A Plan For U.S. Energy Security? - Dec 08, 2004
Fed Heading For A Pause - Dec 07, 2004
Social Security Reform = New Debt - Dec 06, 2004
Fed Sees Growth, Measured Rate Hikes - Dec 05, 2004
Weak Employment Rport Casts Doubts Over US Economic Strength - Dec 05, 2004
Fed: Inflation Not Setting Off Alarms - Dec 05, 2004
Balancing Act On The Buck - Dec 04, 2004
Job Growth Is Well Below Wall Street Forecasts - Dec 03, 2004
Inflation Under Control, Fed Gov. Says - Dec 02, 2004
Global Forecasts for 2005 Growth Are Reduced - Nov 30, 2004
Borrowing For Social Security Plan? - Nov 28, 2004
No Longer Top Dollar? - Nov 26, 2004
Don't Worry ... Don't Be Happy - Nov 26, 2004
Is Another Recession Brewing? - Nov 25, 2004
Inflation Is Tame, Right? - Nov 24, 2004
The Dollar Is Down, But Should Anyone Care? - Nov 21, 2004
Bush Sets Plans To Revamp Taxes, Social Security - Nov 04, 2004