Fed upgrades manufacturing outlook to positive

2012-10-10T14:29:00Z 2012-10-10T15:03:29Z Fed upgrades manufacturing outlook to positiveBy David Nicklaus dnicklaus@post-dispatch.com 314-340-8213 stltoday.com

We all know the economy is sluggish, but the latest  Beige Book report from the St. Louis Federal Reserve Bank says it is gradually getting better. The report says manufacturing and service-sector trends were "positive" in the last few weeks, while the housing market improved and banks saw an uptick in lending.

In manufacturing, the Fed reported that poultry processors, furniture makers and commercial printers were adding employees. The positive manufacturing outlook was an upgrade from the previous Beige Book, which used the adjective "mixed."

Overall, the region's economy "continued to expand at a moderate pace," the St. Louis Fed said. The national Beige Book report said the economy grew "modestly," which in Fed-speak is a small step below "moderately."

 

David Nicklaus is business columnist at the St. Louis Post-Dispatch. Subscribe to his Facebook page or follow him on Twitter @dnickbiz.

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