Fed: Economic growth in the East and Midwest slowed

In the American states on the East Coast and Midwest saw a slowdown in economic growth. According to ITAR-TASS, such survey data, which on Wednesday published the Federal Reserve System (FRS), performs the role of the U.S. central bank.

In 5 out of 12 regions, for which the Fed watches in such reports, economic activity has recently slowed down or has been "mixed." It is about New York (NY), Philadelphia (Pennsylvania), Richmond (Virginia), Atlanta (Ga.) and Chicago (Illinois). In July, the problems were noted only on the last two paragraphs.

The reasons for the deterioration everywhere different. In New York, for example, and in the same state to reduce the volume of sales representatives complain retailers. The same applies to industrial production. In Philadelphia, slowed activity in the housing market and manufacturing industry. In Richmond and Atlanta, opposite tendencies are observed in all these areas, but in general we can talk about lowering rates. In Chicago, state of the retail sector has improved, but not on the processing industry and construction sector.

Nevertheless, the Federal Reserve welcomes the American economy as a whole. It is emphasized that in the second half of summer, she continued to evolve, but "there have been signs of slowing.