Economy: Aug. 17, 2001
Producer prices dropped 0.9 percent in July, following a 0.4 percent decrease in June, according to the Labor Department, which credited falling energy prices for the decline...The Federal Reserve remained glum about the U.S. economy, according to a report recently released by the Fed; the report noted that the industrial and technology sectors remain weak and hinted that other sectors—primarily commercial real estate—may follow suit; retail proved to be a bright spot in the report, however, as the Fed found that retailers kept tight control over inventories while consumers headed for the markdown rack.
