Economy: Brighter picture nationwide – More murky in STL
ST. LOUIS, Mo. (KMOX) – A glimmer of economic hope for the nation is not as bright for the St. Louis region.
“We’re getting a general sense, over the course of the last couple of weeks, that the economic numbers in the United States are, albeit on the low end, but they’re improving gradually,” Stifel Nicolaus Market Analyst Chad Morganlander tells KMOX.
While economic activity is up overall across most of the country, St. Louis is one area where business conditions are mixed.
On the plus side, the latest snapshot from the Federal Reserve shows manufacturing activity is up. “In particular, firms in primary metal manufacturing as well as firms in automobile parts manufacturing reported plans to expand existing operations and hire new workers,” says Fed Economist Ruben Hernandez-Murillo.
Hernandez-Murillo says where St. Louis lags compared to the rest of the country is in the service sector. Government, education, transportation and hotel industries in the region saw a drop in activity.
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