US continues to recover

City A.M. Reporter
ECONOMIC conditions continued to improve across much of the US in late October and early November, but a weak labour market and deteriorating commercial real estate sector remain dark spots in the US recovery, the Federal Reserve said yesterday in its latest beige book.<br /><br />In the report, the Fed said conditions across many of its 12 districts have &ldquo;improved modestly&rdquo;.<br /><br />Consumer spending has risen, home sales picked up and upward wage pressures were subdued, the Fed said.<br /><br />And there were further encouraging signs as jobs data for November revealed that the number of jobs lost in the private sector and the number of planned redundancies both fell.<br /><br />The private sector shed 169,000 jobs last month according to the monthly Automatic Data Processing report, compared to 195,000 in&nbsp; October.