Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Economy & Forex

News : Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Economy Saw Modest Growth in Late 2020, Fed Report Says

01/13/2021 | 02:41pm EST

By Paul Kiernan

WASHINGTON -- The U.S. economy grew modestly in the final weeks of 2020, as a resurgence in Covid-19 cases prompted business in some sectors to slow, a Federal Reserve report said Wednesday.

The Fed's periodic compilation of anecdotes from business contacts, known as the Beige Book, said reports from some parts of the country indicated declines in retail sales and demand for hospitality and leisure services. Other sectors, such as manufacturing and residential real estate, remained strong.

The Fed's characterization of economic conditions represented a downgrade from its previous Beige Book report, released Dec. 2, when policy makers had described economic growth as "modest or moderate." At that time, business contacts had signaled the possibility of potential slowdown given the surge in Covid-19 infections that was taking place at the time.

Write to Paul Kiernan at paul.kiernan@wsj.com

(END) Dow Jones Newswires

01-13-21 1440ET

Latest news "Economy & Forex"
01:34aECLAC ECONOMIC COMMISSION FOR LATIN AMERICA AND : Celebrates Prompt Entry into Force of the Escazú Agreement and Highlights the Region's Commitment to Sustainable Development and Human Rights
PU
01/22CENTRAL BANK OF SRI LANKA : Discretionary Payments of Licensed Banks
PU
01/22Biden, Canada's Trudeau to meet next month, collaborate on vaccines, medical supplies
RE
01/22FEDERAL TRADE COMMISSION : What to know about the second round of Economic Impact Payment (EIP) checks and cards
PU
01/22NETFLIX, PROCTER & GAMBLE, INTEL : Stocks That Defined the Week
DJ
01/22CENTRAL PEOPLE GOVERNMENT OF PEOPLE RE : Xi stresses strict Party governance for 14th Five-Year Plan period
PU
01/22WORLD BANK : Nicaragua to Receive Emergency Funding Following Devastation Left by Eta and Iota
PU
01/22Morgan Stanley CEO's annual pay rises by over 20%
RE
01/22Yellen nomination sails through Senate panel; final vote set for Monday
RE
01/22Delivery apps in Mexico make temporary cut to fees as restaurants struggle
RE
Latest news "Economy & Forex"