The Federal Reserve released its region-by-region report known as the Beige Book, which showed that most districts expect economic growth to slow down further next year.
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That sentiment has spread throughout the Fed's regions; the Beige Book reported that the outlook for future economic growth remained "generally weak" over the summer, with businesses expecting a "further softening of demand over the next six to 12 months." Gross domestic product , the broadest measure of goods and services produced in the country, already fell for two straight quarters, with the economy shrinking by 1.6% from January to March and falling by another 0.6% in the period from April to June.