PHILADELPHIA (Sept. 4, 2014) — U.S. economic activity expanded in August compared with July, but the general pace of growth is still moderate, the Federal Reserve’s latest “Beige Book” stated.
Consumer confidence, consumer spending and tourism were up in most of the 12 Federal Reserve districts, according to the document issued Sept. 3.
Boston and Richmond reported strengthened business activity, while Dallas and Philadelphia noted record-high levels for auto sales, the report said.
Activity among non-financial service sectors showed overall improvement, but manufacturing was mixed, the report said.
The Beige Book is compiled every month by a different Federal Reserve district bank, using data from sources outside the Fed. The current report was compiled by the Federal Reserve Bank of Philadelphia.
With the threat of more tariffs looming, how concerned are you about a trade war?
|Very. It could lead to another recession.||
37% (53 votes)
|It will be good for the U.S.||
19% (27 votes)
|It’s too early to tell.||
31% (44 votes)
|We have bigger problems than this.||
13% (19 votes)
|Total votes: 143|