WASHINGTON – The U.S. economy expanded modestly in June and early July, but growth and hiring slowed in several parts of the country, according to a Federal Reserve survey released Wednesday.
The survey said three of the Fed’s 12 banking districts — New York, Philadelphia and Cleveland — reported weaker growth. A fourth, Richmond, reported that economic activity was mixed.
That’s a shift from the Fed’s previous survey, which noted that growth had picked up in 10 districts from mid-April through May.
Hiring was “tepid” in most districts in June and early July. Retail sales slowed in Boston, Cleveland and New York, and manufacturing weakened in most regions.
One positive sign: All 12 districts reported gains in housing.
Send questions/comments to the editors.
Success. Please wait for the page to reload. If the page does not reload within 5 seconds, please refresh the page.
Enter your email and password to access comments.
Hi, to comment on stories you must . This profile is in addition to your subscription and website login.
Already have a commenting profile? .
Invalid username/password.
Please check your email to confirm and complete your registration.
Only subscribers are eligible to post comments. Please subscribe or login first for digital access. Here’s why.
Use the form below to reset your password. When you've submitted your account email, we will send an email with a reset code.