Fed beige book shows weak real estate market in February

03/6/2008 | NYTimes.com

The Federal Reserve's "beige book" was released on Wednesday and showed slowing real estate and retail sales. The report said residential and commercial real estate sales remained weak, with home sales falling as much as 20% in some areas. "The February beige book adds to the weight of evidence that the economy is struggling with recessionary forces," Brian Bethune, an economist at the forecasting firm Global Insight, wrote in a research note.

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