Beige Book points to gloomy outlook for US economy

federal reserve

The economic recovery in the United States showed signs of slowing in the six weeks to the end of August, particularly in parts of the eastern seaboard, the Federal Reserve's latest Beige Book, out Wednesday, said.

The report, prepared by the San Francisco Federal Reserve and based on information collected on or before 30 August, said the economy in the five western districts - which are covered by the St. Louis, Minneapolis, Kansas City, Dallas, and San Francisco Feds - grew "at a modest pace",

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