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Federal Reserve Report: Most Regional Economies Showing Tentative Recovery

Most of the regional economies in the United States are showing recovery, albeit at a slow pace and with areas of lingering weakness, according to the Federal Reserve's monthly report on economic activity, known as the "beige book." The Fed's report shows that manufacturing and residential real estate are each showing a "continued pattern of improvement that emerged over the summer," but that consumer spending and nonfinancial services are still skittish. The weakest sector is commercial real estate, with conditions described as deteriorating in all of the Fed's 12 regional districts. Regions in which the housing market is still depressed are showing the least improvement overall.

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