The Federal Reserve's latest snapshot on this region's economy points to "mixed" and "modest" improvements, although the real estate and retail sectors weakened.
The so-called Beige Book report on the Richmond district, which includes the Carolinas, reflects a mostly lackluster economic recovery. This region's report mirrors the slow growth or modest activity the Fed found in its other 11 regions across the country. Tourism was a bright spot, with solid business reported in the mountains and along the coast.
"An analyst from the Outer Banks ... indicated that restaurants were full and sales at gift shops were flourishing," Fed analysts wrote. "Managers at mountain resorts reported that holiday reservations were the best in years."
