Fed: Dallas is only area of country to show improving growth

http://www.usatoday.com/money/economy/2011-06-08-beige-book-dallas_n.htm Four of the Federal Reserve's 12 bank regions suffered slower growth in April and May compared with earlier this year, a Fed survey reported Wednesday. The report confirmed a slew of data that portray a national economy whose growth has faltered. Hiring has slowed, orders to factories have declined and home prices have fallen.

Fed banks in New York, Philadelphia, Atlanta and Chicago said growth weakened in those regions. By contrast, the Fed regions in Boston, Cleveland, Richmond, St. Louis, Minneapolis, Kansas City, and San Francisco said growth there remained steady.

The Dallas region was the only one to report accelerating growth. That was mostly because of higher oil prices that benefited that region's energy industry.