Economy Growing at Moderate Pace, Fed Says


6/6/2012 3:30:00 PM
Write a Letter to the Editor



Print This
 

The U.S. economy grew at a moderate pace in April and May as manufacturing improved, and trucking and transportation activity were generally higher, the Federal Reserve said Wednesday.

Freight levels rose in Cleveland, while railroad contacts in the Atlanta district showed continued growth, the Fed said in its latest “beige book� report, which it releases eight times a year.

Demand for trucking services improved in San Francisco, Kansas City reported flat transportation activity and Dallas noted mixed results from shipping firms, the report said.

Overall factory activity improved in most districts, but manufacturers were concerned that Europe’s slowdown and domestic political uncertainty may affect future business decisions.

Carriers in the Cleveland district reported negotiating rate increases as freight contracts came up for renewal, while noting wage pressure from a tighter driver pool.

Transportation firms replaced aging equipment units and added capacity, though there were two reports about small carriers reducing fleet sizes due to high replacement costs, the Fed said.

Wednesday’s report, which covered the period of April 3 through May 25, was prepared by the Dallas Fed.

Follow Transport Topics on RSS Twitter Facebook


 Print This
 


© 2012, Transport Topics Publishing Group. All rights reserved.

 

 

RELATED ARTICLES

Freight Tonnage Jumps 6.8% in June (8/1/2011 8:00:00 AM)
June Truck Tonnage Rises (8/2/2010 8:50:00 AM)
Fed ‘Beige Book’ Gives Trucking Mixed Report (7/25/2007 3:30:00 PM)
Fed ‘Beige Book’ Cites Trucking Slowdowns (6/13/2007 4:00:00 PM)
Fed Beige Book Reveals Moderating Trucking Demand (11/29/2006 3:00:00 PM)
Factory Sector Continuing to Expand, Fed Says (6/16/2004 4:00:00 PM)
 

JOIN OUR NEWSLETTER
We'll deliver tax strategies to your inbox from our CPA firm.
We hate spam. Your email address will not be sold or shared with anyone else.