WASHINGTON — U.S. economic growth slowed in recent weeks, although activity varied widely by industry, the Federal Reserve said yesterday in a report underscoring the patchy nature of the recovery.
"Most [of the 12 Federal Reserve] districts indicated slow and uneven economic growth, with mixed or scattered experiences across sectors of the economy," the Fed said in the report, known as the "Beige Book" for the color of its cover, an anecdotal snapshot of economic conditions across the nation.
In the Philadelphia area, retail sales were down in August compared with July, but manufacturers reported that shipments of goods and new orders were steady, maintaining the growth of recent months.
