Fed: New England Economy Continues To Improve
Posted by | Posted on 11-01-2012
Much of New England’s economy showed modest improvement during the fourth quarter — but real estate remains in the tank, the Federal Reserve reported today in its latest “Beige Book” survey.
“Most contacts expect a continuation of current modest growth trends, notwithstanding uncertainties related to Europe and U.S. budget deliberations,” Fed researchers wrote in the Beige Book, which they compile quarterly by surveying businesses across the country.
The Fed said New England’s consulting, advertising and travel/tourism industries all had solid growth during the period, while retailers and manufacturers reported modest gains.
However, the region’s construction, commercial and residential real estate sectors remained generally weak.