St. Louis Fed ‘Cautiously Positive’ About Economy in 2014
ST. LOUIS (KMOX) - New numbers released from the Federal Reserve in St. Louis show cautious optimism for the regional economy next year.
Federal Reserve Researcher Charles Gascon says the Burgundy Book, a quarterly snapshot of the local economy, shows a decrease in unemployment, which is fueling that positive sentiment.
“A little more than half believe the economy will improve next year while only about a quarter believe conditions will worsen,” Gascon says.
The report also shows single family home building contracts are on the rise.
“House prices moved higher. The consensus outlook for 2014 is cautiously positive,” Gascon says.
The Burgundy Book finds retail contacts are reporting slight increases in sales. In agriculture, corn and sorghum have had above-expected crop yields.