Federal Reserve Board - Beige Book, April 2007

The Federal Reserve published its April 2007 Beige Book survey on Wednesday 25 April. The report said there were few signs of a pickup in the U.S. economy in the early days of the second quarter.

Most of the 12 Federal Reserve district banks "noted only modest or moderate expansions in economic activity," the Beige Book reported.

The report found "flat or slowing demand for residential mortgage loans" but made no mention of any disturbances from the subprime mortgage market woes.

Retail sales were

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