"The Federal Reserve yesterday reported that the nation?Ûªs recovery from recession is proceeding at a ""slow, uneven pace,?Û? with continued weakness in retail sales and real estate, and new rounds of layoffs by state and local governments.</br></br>The central bank?Ûªs report, compiled by its 12 regional banks from the comments of hundreds of business people across the country, follows a spate of pessimistic statistics that reflected the grudging transition to recovery from recession.</br></br>Yesterday?Ûªs report is both the most recent indication of economic malaise?ÛÓit covers the period through the end of July?ÛÓand one of the rare barometers of the national economy that is based on widespread polling of the private sector, rather than on compilations of statistics.</br></br>rate Tuesday in hopes of stimulating business and consumer spending. The picture drawn by the document is of a recovery somewhat weaker than Bush administration officials have suggested.</br></br>""National economic conditions continue to improve, but at a slow, uneven pace,?Û? said the report, which is called the ?Ûª beige book?Û? after the color of its cover."