Economy growing, Fed reportsThe economy is growing solidly...

BUSINESS DIGEST

May 05, 1994

Economy growing, Fed reports

The economy is growing solidly in most parts of the country except for California, but even that state is improving, the Federal Reserve said yesterday in its so-called Beige Book report.

With a return of more favorable weather in March, retail sales were reported strong everywhere. Clothing sales were improving, and new-car sales were very strong.

Aside from aerospace, manufacturing was expanding, and production of cars and parts, steel and building materials was near capacity.

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