- Today’s FED Beige book noted that most of the twelve FED districts indicated that the pace of decline has moderated or that activity has begun to stabilize.
- Economic activity was described as “slow,” “subdued,” or “weak” by five of the districts.
- Chicago & St. Louise reported that pace of decline appeared to be moderating.
- Most districts reported sluggish retail activity, with consumer spending in the early summer below year-ago levels.
- Households are still continuing to be price conscious, several districts noted that consumers focused on purchasing less expensive necessities.
- Auto sales were mixed across the country, although the Philadelphia, Cleveland, Atlanta, Kansas City and San Francisco districts said that sales of used vehicles continued to be strong or were strengthening.
- Manufacturing ticked slightly positive compared to the previous beige Book report but remained bad…
"Many Districts characterized manufacturing activity as remaining depressed but with selected signs of modest improvement."
- All twelve districts indicated that the labor market remain slack, with most sectors either reducing jobs or holding them steady.
For a more nicer summary by districts visit this article by Seattletimes.
Source: RTT News
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