6/10/2010

All 12 Federal Reserve regions had an expanding economy in April and May -- the first instance since October 2007, according to the regulator's Beige Book report. Households spent more, which helped the U.S. economy expand at a 3% annual rate in the first quarter. The Fed reported that labor-market conditions also improved, as did transportation, manufacturing and nonfinancial services. However, commercial real estate continues to show weakness.

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