18 January 2001, 10:39 The Federal Reserve's latest beige book survey
The Federal Reserve's latest beige book survey Wednesday shows a
further deceleration in the rate of growth of the U.S. economy in
December, "diminished" consumer confidence, "lackluster" holiday sales
and weaker manufacturing. "Reports from Federal Reserve Districts
indicate that economic growth slowed in December, easing labor shortages
somewhat and limiting price pressures for finished goods and services,"
the beige book said. Retail sales, including auto sales, manufacturing
and construction all exhibited weakness in the latest survey which will
be used by the Federal Open Market Committee at its next meeting.
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