You can now read 5 articles in a month for free on Read as much as you want anywhere and anytime for just 99¢.

Red Sox Live



▼  1st Inning 0 outs

New England economy growing moderately, according to Fed

New England’s economy continued to expand and businesses are “optimistic” about future growth -- but not optimistic enough to significantly increase hiring, according to report released Wednesday by the Federal Reserve.

The report, called the Beige Book, summarizes economic activity based on anecdotal information collected from businesses in each of the 12 districts served by Federal Reserve banks. It is issued eight times per year in advance of the Fed’s policy-making meetings.

Continue reading below

Fed officials next meet June 17 and 18.

The Fed report found that the economy is expanding across the country, with most regions, including New England, reporting moderate growth. Few firms here, however, reported increased hiring

New England’s manufacturing sector was particularly strong, with nearly all that were surveyed reporting increases sales from a year ago, according to the Fed. Technology companies also reported strong business activity, with revenues growing as much as 20 percent from a year ago.

Performance varied widely among retailers, with some experiencing sales increases, others, declines. The Boston area housing market continued to be constrained by low inventories, which real estate agents blamed for a decline in sales.

Commercial real estate activity was largely stable, the Fed reported, although demand for space in the Seaport District, Back Bay, and Kendall Square remained very strong.

“Some investors are reportedly starting to balk at Boston’s high commercial real estate prices, but overall investor interest in the city remains very high,” the report said.

Jack Newsham can be reached at Follow him on Twitter @TheNewsHam.
Loading comments...
Want each day's news headlines delivered fresh to your
inbox every morning? Just connect with us
in one of the following ways:
Please enter a valid email will never post anything without asking.
Privacy Policy
Subscriber Log In

You have reached the limit of 5 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of
Marketing image of