More Fed Regions Indicate US Economy Slowdown: Beige Book

By : Subscribe to IBTimes's | July 18, 2012 7:16 PM GMT

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(Photo: Reuters)<br>The U.S. economy showed signs of slowing in June and early July in three of 12 Federal Reserve bank districts, the central bank said Wednesday in its latest Beige Book report.
(Photo: Reuters)
The U.S. economy showed signs of slowing in June and early July in three of 12 Federal Reserve bank districts, the central bank said Wednesday in its latest Beige Book report.

The U.S. economy showed signs of slowing in June and early July in three of 12 Federal Reserve bank districts, the central bank said Wednesday in its latest Beige Book report. That's up from one region in May.

The slowdown was concentrated, for the most part, in the New York, Philadelphia and Cleveland districts.

Factory production was increasing slowly, but hiring was viewed as "tepid," the Fed said.

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