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Economy showing improvement, Fed 'beige book' survey shows
Economy showing improvement, Fed 'beige book' survey shows

A Federal Reserve survey shows the U.S. economy strengthening over the last two months in areas that include manufacturing, construction, retail sales and bank lending. Seven of the Fed's 12 regions — Boston, New York, Richmond, Chicago, Minneapolis, Dallas and San Francisco — reported "moderate" growth during the early spring, and the remaining five described growth as "modest," according to the 'beige book' survey released Wednesday. Retail sales were reviving, helped by pent-up demand for new cars after the harsh winter, the survey found. Manufacturing was expanding in all regions, along with lending. One weakness was home sales, held back in large part by a tight supply of...

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