While you were sleeping US economy shows strength

Wed, 29 Aug 2012

By Margreet Dietz Aug 30 (BusinessDesk) - Wall Street advanced as better-than-expected reports on the US economy kept alive optimism on the recovery without erasing hopes that US policy makers will still lend a helping hand to accelerate the pace of expansion. "Reports from the twelve Federal Reserve Districts suggest economic activity continued to expand gradually in July and early August across most regions and sectors," the Fed said in its Beige Book regional business survey. The US economy grew at a 1.7 percent annualised pace in the sec...

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