Economy Picked Up in Most Regions in March: Beige Book

[sabra]

Source: AP

The economic recovery is spreading to most parts of the country. Merchants are seeing better sales and factories are boosting production, but many companies are still wary of ramping up hiring, the Federal Reserve reported Wednesday.

The Fed's new survey is consistent with chairman Ben Bernanke's view that a modest recovery is unfolding, although it won't be strong enough to quickly drive down unemployment now at 9.7 percent.

All of the Fed's 12 regions—except for St. Louis—said "economic activity increased somewhat." That was an improvement from the last Fed survey, released in early March, where nine regions reported modest economic advances. Snowstorms had crimped activity along the East Coast.

In the new survey, the St. Louis region said economic conditions had "softened." That was a downgrade from the previous report when the region reported mixed economic conditions.

Read more: http://www.cnbc.com/id/36510359

[dmallind]

1. If you wanted responses you should have titled this

"There is no damn recovery and never will be"

You'd have at least 50X the views then.

[sabra]

2. lol

:hi:

[AzNick]

3. What's with the negativity? n/t

[UrbScotty]

4. Good news! Thanks! (nt)

[JDPriestly]

5. Hope, hope, hope..

But reality sometimes bites, so it's wise to continue to be cautious about spending money. Don't count your eggs before they hatch, as the wise used to say.