TNBiz (TNBiz)
Macroeconomics  |  July 19, 2012 10:45:11

Fed Beige Book: Economic growth in the U.S. is only weak

WASHINGTON (MEDIAFAX) - Economic growth in the U.S. in June and early July cooled, hiring new employees in most parts of the country was weak. Reported on Reuters, referring to the current edition of the Beige Book, a report of the U.S. central bank Federal Reserve on the state of its economy.

"Reports from most of the 12 federal districts currency indicate that overall economic activity continued in June and early July in mild to moderate moderate growth," said the central bank in its current Fed Beige book (so-called Beige Book).

Previous Beige Book, which was released on the 6th June, assessed the state of the U.S. economy in a slightly more positive light, he described him as "moderate."

Beige Book prepared by the Fed this time in Atlanta based on information obtained 9th July. Financial markets are closely following the Beige Book, as it reflects the knowledge of entrepreneurs from throughout the United States of America.

"The level of employment has improved in most districts only tepid pace," he said on Fed.

Many economists now think that U.S. economic growth slowed in the second quarter, according to some very significantly. Creating new jobs in the United States during the period significantly eased, as well as production in factories. But are weak in recent months and retail sales.

The Fed found that companies evaluate the prospects of the economy was still optimistic. But some companies now accept new employees because they are not sure how the government stand on the issue of taxes and spending.

"Overall, the districts generally reported that their contacts remain cautiously optimistic," the report said the Fed.

Upward pressure on inflation so far, the Fed remains weak, weak as a result of upward pressure on wages.

The Fed recently sharply worsened outlook for growth in its economy this year. The local gross domestic product (GDP), according to updated forecasts will not increase by more than 2.4 percent, while the Fed allowed for earlier 2.9 percent growth.

The U.S. economy in the first quarter of this year increased by the revised data of 1.9 percent QoQ, while the result was in line with analysts' expectations. Ministry of Commerce of the United States and confirmed its previous estimate refined. In his very first estimate of the Ministry of Commerce announced even grow by 2.2 percent.In the last quarter of last year, U.S. gross domestic product (GDP) grew by three percent equals, in the first three months of this year slowed down significantly.

Consumer spending, which accounts for roughly 70 percent of U.S. economic activity, in the first quarter of this year grew by revised Commerce Department data "only" 2.5 percent, while the ministry originally reported increase of 2.7 percent.

The Federal Reserve, the sound of the full name of the U.S. central bank consists of 12 Federal Reserve Banks, each of which represents one exchange district. The Federal Reserve Bank have their branches, which is 25th in total

Tomáš Králíček,

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