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Health & Fitness

St. Louis' Economic Activity Falls as Nation's Climbs

While economic activity increased across the nation, the St. Louis region lagged. What is holding the economy back? Plus, learn how to check online to see if the IRS owes you money.

The Federal Reserve Board released its latest Beige Book on Wednesday, noting consumer spending rose modestly during the reporting period. However, retail sales in the St. Louis district declined slightly compared to last year.

Manufacturing activity and residential real estate market activity also declined in the Eighth District.

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Reports in the service sector and commercial real estate market, meanwhile, continued to be mixed, according to the report published in advance of the Federal Open Market Committee meetings.

Each bank gathers anecdotal information on economic conditions in the district for the report. 

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"The economy of the St. Louis district has slowed since the previous survey," said Ruben Hernandez-Murillo, a St. Louis Fed economist, in audio highlights of the survey. "Reports from business contacts in the district were less optimistic than in October, particularly in the manufacturing sector."

As reported by Missouri Journal last week, , keeping the unemployment rate high.

Taxes, taxes and more taxes

The Internal Revenue Service wants to deliver $153.3 million in undelivered tax refund checks.

More than 99,000 taxpayers across the country are due refund checks this year, the IRS announced Wednesday. Taxpayers who fear their refund checks my have been returned to the IRS are asked to use the Where's My Refund tool on the IRS.gov website to find out the status of their refund checks.

The average taxpayer across the country, meanwhile, is expected to pay a professional tax preparer or accountant $233 to complete his or her 2011 tax return. But, it will only cost $178 for the average taxpayer in Missouri, according to a recent survey by the National Society of Accountants.

The trade group estimates there are approximately 14,000 tax preparers in the Show-Me State.

Plus, the National Retail Federation entered the online sales tax debate, declaring online sellers have a price advantage that is "stifiling" Main Street, mimicking the stance taken by Sen. Roy Blunt

As Missouri Journal reported last month, the Republican from southwest Missouri said the federal measure would close a tax loophole, .

Missouri Journal launch continues

After starting on Facebook and Twitter, followed by , the website launch for Missouri Journal, which will explore the economy around the Show-Me State, is expected later this month. 

As mentiond by the media and development firm B.R. Hook, which owns and operates Missouri Journal, one of the long-term goals is to hire experienced journalists to help cover the state.

To help finance this goal, B.R. Hook started a crowd-funding effort and is now able to accept funds online. The plan is to raise enough money to pay one reporter for a year. What happens if the effort is more successful than anticipated or if it completely fails? Participate in the effort at B.R. Hook.

By Brian R. Hookbrhook@brhook.com, (314) 482-7944

Hook is editor of Missouri Journal, which covers the economy across the Show-Me State. For more Missouri news, sign up for a newsletter and follow Missouri Journal on Twitter and Facebook.

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