How US economy looks like today it is gaining value to losing its grounds. Most of the business owners from all around the world and American are also trying to understand US economy facts.
Is the economy improving or not? That is the question on the minds of millions of Americans these days. Because the U.S. economy is such a massive and complex system, its not unusual to find some of the data pointing to a stronger economy while other data suggests the economy is weakening. In this article, well go directly to the source in search of the truth just over the economic horizon.
Source of Economic Data: The Fed
Perhaps the best source of anecdotal information on the U.S. economy is the Beige Book which is published by the Federal Reserve eight times a year. The Federal Reserve system divides the U.S. into 12 Districts which are numbered and referred to according to the city which houses the Federal Reserve Bank for that District (see map below). Each Federal Reserve Bank gathers economic data from its District through banks, branch managers, interviews with key business contacts, economists, market experts, and others. The Beige Book contains a summary as well as details from each District.
The Current State of the Economy: An Overview
Based on information published in the most recent Beige Book (April 16, 2014), economic activity increased in all Districts except Cleveland and St. Louis. This increase is compared to the previous Beige Book from March 5, 2014. However, because of the unusually harsh winter conditions experienced earlier this year in some heavily populated regions of the country, an improvement was inevitable. With spring officially here, the birds started chirping again and there was a slight improvement in consumer spending in most Districts. This is especially significant since consumer spending accounts for nearly 70% of GDP.
In short, it appears the economy is continuing to heal. In fact, I would even say the current economic climate is
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