Midwest economy shows modest growth
The Federal Reserve’s June 6 Beige Book indicates overall economic activity increased at a modest pace across the country during the previous two months. The Kansas City district economy improved moderately due to strong sales for retailers and restaurants. Residential and commercial real estate activity increased solidly with higher sales and lower vacancy rates. Banking contacts reported slightly higher loan demand, improved loan quality and increased deposits. In the Minneapolis district, the economy grew modestly from consumer spending, tourism, professional services, real estate, construction, manufacturing, energy and mining . . .
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