Economy slowing Economic growth has slowed since the beginning of the year, according to Federal Reserve banks and their Beige Book report. Two-thirds of the Fed Districts cited softening or weakening in the pace of business activity, while the others referred to subdued, slow or modest growth. Retail activity in most areas was weak or softening, although tourism generally continued to expand. Residential real estate markets generally remained weak; reports on commercial real estate markets were mixed, but also suggest slowing. Most areas reporting on banking cite tight or tightening credit standards and stable or weaker . . .
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