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The Boston Globe

Business

Fed reports modest growth in N.E.

Economic activity in New England grew modestly, boosted by an improving housing market, although few new jobs were created, according­ to a survey by the Federal Reserve.

Retailers said sales were slower than expected and tourism softened, partly due to a prolonged winter. Tourist activity from Europe dropped about 5 percent this quarter, compared with a year ago, but business travel and entertaining remained strong.

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