Growth slows, Fed's Beige Book says

[cthrumatrix]

Growth slows, Fed's Beige Book says
Economy expanding at a modest pace in most districts

By Rex Nutting, CBS.MarketWatch.com


WASHINGTON (CBS.MW) - Economic growth slowed in many regions of the United States over the last six weeks, the Federal Reserve said Wednesday in its Beige Book report on the economy.

While the economy continued to expand in late July and August, "several districts indicated that the pace had slowed," the Beige Book said.

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http://cbs.marketwatch.com/news/story.asp?guid={0BF3639D-99F3-488E-BF0B-31CFD20D0CEE}&siteid=mktw

[papau]

1. They are praying for the 3.1% I suggested last year as the 4th q 04 result

I have shown once again that in predictions it is better to be lucky than smart!

Also always use someone else model so you can blame them if wrong!

I used public data - and known model results - yet 100 folks surveyed by Bloomberg were into 5 to 6% predictions, dropping to 4.5% as time went on. I swear folks on the Street see blue smoke!

[Demeter]

2. It's Been Like That Since Ronnie

The Wall Street Joural went off the rails and has never recovered. I'm convinced that the editors never ever even glance at the numbers they print.