Fed report shows mixed picture of tepid US recovery

Washington (AFP) – Some segments of the US economy showed promising signs of rebounding from pandemic damage, but the picture remains decidedly mixed amid the uptick in Covid-19 infections, according to a Federal Reserve report Wednesday. Most regions of the country reported “economic activity increased modestly,” and employment rose albeit slowly, as housing sales remained strong and manufacturing stayed on an upward trajectory, the central bank said in its “beige book” survey of economic conditions. The world’s largest economy posted a record economic collapse of 31.4 percent in the April-Ju…

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