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Mar. 8, 2002: Federal Reserve Districts Report Improvement In Economic Climate

March 8, 2002
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WASHINGTON, DC — The Federal Reserve announced this week that a majority of its district offices reported signs of improvement in economic conditions in January and early February. “The Boston, Philadelphia, Richmond, Atlanta, Minneapolis, and San Francisco districts note some pickup in activity, Chicago cites a more positive tone, and Kansas City and St. Louis say that economic activity is weak, but there are some bright spots.”

Most districts “report modest improvements in retail sales recently compared with the end of last year,” the Federal Reserve stated. “Districts indicate that residential real estate markets are generally stronger than commercial markets.” Also, the warmer weather and slow global economy have contributed to weaker energy demand.

Publication date: 03/04/2002

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