ST. LOUIS (KMOX) – Every six weeks, the Federal Reserve puts out its beige book—a snapshot of the local economy.
In the most recent beige book report, Federal Reserve economist Reuben Hernandez Murillo says in cities like New York and Philadelphia, retail has come to a stand still because of all the winter weather. And though storms hit this area, too, he says it hasn’t had the same effect.
Instead, recent economic growth in the St. Louis area is considered “moderate to average.”
“Recent reports on consumer spending indicate that retail sales over the past three months increased slightly, compared with the same period a year ago,” he says.
He says the services industry has seen about 400 jobs go, but the manufacturing industry has added about 900 jobs. Most of those jobs are in auto manufacturing, auto parts and plastics.
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