Economy
December 4, 2020
Federal Reserve Report Indicates a Nervous Economy
Written by Sandy Williams
Economic expansion in November was characterized as “modest or moderate” by the Federal Reserve in its latest Beige Book. Activity slowed in Philadelphia and three Midwest districts as COVID-infection rates surged at the beginning of the month.
Higher than average growth was reported for manufacturing, distribution and logistics, homebuilding, and existing home sales. Some sectors reported that business conditions remained below pre-pandemic levels.
