US Economy Strengthening, Finds Fed

05 September 2003

Confidence in America’s economic outlook is getting stronger, according to a new study by the Federal Reserve.

The latest ‘beige book’ – an anecdotal, state-of-the-nation report that is published ahead of each meeting of Fed policy makers – found an improvement in conditions in July and August.

Eleven of the Fed’s twelve districts around the country reported an economic upturn – though in some places the rebound was described as “selective”. There was also evidence in certain areas of rising investment and employment.

But despite rising optimism, some voiced lingering concerns over whether the recovery can be sustained.

Data sourced from: The Wall Street Journal Online; additional content by WARC staff