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Fed : Growth slows in places on shutdown worries


October 16. 2013 2:37PM
Associated Press

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(AP) The Federal Reserve says economic growth slowed in a few key regions of the United States from September through early October, as businesses grew worried about a budget impasse that led to a partial government shutdown.


The survey says overall growth continued at a modest to moderate pace and that eight of the Fed's 12 banking districts reported the same growth rate reported in August through early September. But four districts Philadelphia, Richmond, Chicago and Kansas City reported that growth had slowed.


Businesses around the country remained optimistic about the future. But many noted increased uncertainty because of the federal shutdown, which began on Oct. 1, and a looming deadline to raise federal borrowing limit.


Associated Press


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