Tech Leads 'Moderate' Expansion

Susan Hall

Tech was mentioned as a bright spot in an economy otherwise expanding "moderately," according to the Federal Reserve's latest Beige Book report. quotes the report, saying:

For manufacturers of semiconductors and other technology products, demand continued to grow, with high levels of capacity utilization and balanced inventories.

Businessweek made the point that the recovery in manufacturing is due to business spending, not from consumers. The Fed also noted the difficulty in hiring workers with specialized skills, particularly in its Boston, Richmond, Chicago and Kansas City districts.

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