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ST. LOUIS, Mo. (KMOX) – In the latest economic snapshot from the Federal Reserve, slight economic growth has been reported in most cities throughout the country — except St. Louis, where business conditions are mixed.
“Over the course of the last couple of weeks, economic numbers in the United States are on a low end, but are improving gradually,” Stifel Nicolaus Market Analyst Chad Morganlander says.
While cities nationwide are seeing an increase in all areas of economic development, other than the housing market, St. Louis saw gains in only the manufacturing industry and auto sales.
“In particular, firms in manufacturing as well as firms in automobile parts and manufacturing reported plans to expand existing operations and hire new workers,” Federal Economist Ruben Hernandez-Murillo says. “But St. Louis is lagging in the service sector.”
Hernandez-Murillo also said that St. Louis saw decreases in activity throughout Government, education, transportation and hotel industries.
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