Fed: ‘Moderate’ Growth For Area Economy
In its latest assessment of economic activity in the Boston area, the Federal Reserve Bank on Wednesday reported that its business contacts in the region are seeing a “moderate pace” of expansion, mirroring that of the rest of the United States.
“Retailers, tourism contacts, manufacturers and consulting and advertising contacts all report modest increases in sales,” the Fed wrote in its July report. “Commercial real estate conditions are improving or holding steady, depending on location. Residential real estate contacts report increases in both house prices and sales. Overall prices are rising at a modest pace, generally in line with cost increases.”
The Fed said most businesses are holding employment steady, with substantial staffing changes only at firms experiencing significant increases or decreases in sales. And they generally expect the recent trend of moderate growth to continue.
WBJ Web Partners
Most Recent
Most Recent
0 Comments