Written by Rob Lillpopp on August 18, 2010 – 6:29 am
NEW YORK
(This region covers New York and parts of Connecticut and New Jersey.)
According to a report released by the Federal Reserve, the economy showed more signs of strengthening. Tourism in New York City was robust, helped by a pickup in business travel. Manhattan hotels said occupancy rates rose to a record high for May and stayed strong in June. Broadway theater attendance was brisk. Retailers said sales met or beat expectations. Sales of clothing were healthy. But sales of big-ticket appliances were sluggish. Auto sales retreated a bit, but are up from a year ago. Factories reported some “leveling off” in activity. The commercial real estate market was mixed, although office leasing activity rose in New York City and vacancy rates dipped. The housing market was soft. More banks reported rising demand for consumer loans.
To read more from the Associated Press report and results from other parts of the country, click here.
