WASHINGTON (AP) — The economy expanded at a slow to moderate pace over the past two months in most areas of the country, but overall hiring was weak, according to a Federal Reserve survey released Wednesday.
Modest improvement in all but one of the Fed's 12 banking districts suggests the economy is growing but barely enough to keep the unemployment rate from rising. And the debt crisis in Europe could slow such growth, especially if that region falls into a recession.
Jennifer Lee, senior economist at BMO Capital Markets, said the Fed's survey depicted an economy that "continued to muddle along, far from a robust pace."
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