By  on November 29, 2007

WASHINGTON — The U.S. economy grew at a slower pace last month and early this month, as retailers confronted soft consumer spending and expect only small sales gains for the holiday season, according to the Federal Reserve's Beige Book.

"Reports on retail spending were downbeat in general," said the Fed's anecdotal take on the economy across its 12 districts. "Most districts characterized sales as weak or indicated that they had softened."

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