Federal Reserve Beige Book says economy still growing weakly

Washington, DC, United States (AHN) – The economy is weak in much of the nation, but it is still growing slightly and is not in recession, according to the Federal Reserve’s latest outlook released Wednesday.

According to the so-called Beige Book, although the country does have a robust economy, many districts still have growth in at least the “modest” or “slight” range.

The book is a summary of outlooks from the 12 district banks across the country published by the Federal Reserve eight times a year.

Fed officials say that overall economic activity in September continued to expand. Moreover, business spending increased a bit while consumer spending was up in most districts.

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