August 20, 2014
WASHINGTON (AP) - The economic recovery is finally spreading to all parts of the country. But the modest pace of growth suggests companies won't be ramping up hiring to quickly drive down unemployment.
A new survey by the Federal Reserve says economic activity improved across all 12 regions tracked. That's a tad better than April's survey when all of the Fed's regions - except for St. Louis - reported "economic activity increased somewhat." The last time all regions were in a growth mode was roughly before the recession started in December 2007.
Manufacturing picked up, retail sales grew, tourism improved and housing was helped by the now-expired tax credit for homebuyers. But commercial real-estate is weak and labor market conditions improved only "slightly."
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or email@example.com.