WASHINGTON (AP) -- The economy has weakened since the start of this year as shoppers turned even more cautious given the severe housing slump and painful credit crunch.

Manufacturers and other businesses, meanwhile, had to cope with skyrocketing prices for energy and other raw materials. The businesses' ability to pass along higher prices to their customers was mixed, according to the Federal Reserve's new snapshot of nationwide economic conditions released Wednesday. Oil hit jumped to a record of $104.52 a barrel.

Many economists fear that the country is teetering on the edge of a recession or is in one already.

"Economic growth has slowed since the beginning of the year," the Fed reported. Two-thirds of the Fed's 12 regions "cited softening or weakening in the pace of business activity, while the others referred to subdued, slow or modest growth," the Fed said.

The report suggested that persisting problems in the housing market and harder-to-get credit are affecting the behavior of individuals and businesses alike -- making them think twice about spending and investing.

Wall Street investors took the news in stride. The Dow Jones industrials gained 41.19 points.

Lying in a hammock or perfecting the old golf game for 20 years might seem the ideal retirement to baby boomers at 3 p.m. on a hectic Wednesday, but it will likely lose its luster after a few years.

Unlike their parents, baby boomers have plenty of healthy years ahead of them once they reach 65, thanks to modern medicine. Add to that the shortage of skilled employees in the workforce, and baby boomers have the option of working through what was once considered the traditional retirement years.

Since trudging to the office until age 85 sounds horrific, the question is: What will an enjoyable and fulfilling retirement look like? In her new book, Retire Retirement: Career Strategies for the Boomer Generation, Tamara Erickson explores boomers' options and offers guidance for achieving them.

Ideally, the workplace will be flexible and boomers will work on a project basis as opposed to five days a week from 9 to 5. Or it will be a time when they can explore a second or even third career. But the key is to start planning now.

"Most people have not gotten their head around the idea of the next 20 to 30 years," says Erickson. "When you ask most people what they're going to do when they retire, most people are lucky if they can