Fed: Economy darkens heading into holidays - WKOW 27: Madison, WI Breaking News, Weather and Sports

Fed: Economy darkens heading into holidays

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WASHINGTON (AP) --The Federal Reserve says the country's economic picture has darkened further.

  The Fed's survey of business conditions around the country shows Americans hunkered down heading into the holidays, forcing retailers to ring up fewer sales and factories to cut back on production.

  The report suggests the economy was sinking deeper into recession, and concludes: "Economic activity weakened across all Federal Reserve districts."

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