New England Businesses Say Economic Recovery Slowing

There are new signs the economic recovery in New England may be slowing. The latest Beige Book — a survey of businesses from Federal Reserve Bank of Boston — reveals the mood of companies is still increasingly cautious.

Retailers tell the Boston Fed that sales are mixed after more positive growth earlier this year. Moreover, real estate firms say business is cooling off after a strong spring.

In light of the uncertain economic waters, most companies are holding steady with jobs. Some firms with rising sales are hiring.

Some advertising agencies and consulting firms in the region report that revenues are up. That's a sign that their clients are moving forward again.

On the other hand, most manufacturers expect only gradual improvement for the rest of the year.