A new survey by the Federal Reserve states that 10 of the Fed’s 12 regions reported economic growth picking up this fall.
According to the survey, “Stronger production at factories helped propel growth in most parts of the country. Makers of fabricated metals and autos and related goods saw the biggest gains.”
Other industries showing marked improvement included tourism and the sales of new cars and light trucks. All of these factors contributed to a modest job growth.
While the country saw a burst of hiring in October, it is clear that employer confidence is still shaky. For instance, the survey showed that the Atlanta and Chicago regions prefer part time and temporary workers. As we learned in class, this is a sign that increased full time employment may also be around the corner.
The Fed will meet again on Dec. 14 to assess the success of the Q2E program in November.
Which two of the twelve did not report growth? Do you know if they reported decline or stayed the same?
ReplyDeleteI feel like the increase new car sales show an increase in consumer confidence which would help the economy as a whole continue to grow.