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US economic activity rises at moderate pace—Federal Reserve
(MENAFN) The US Federal Reserve on Wednesday indicated that overall economic activity is rising at a “slight to moderate” pace across most regions of the country.
The Beige Book, compiled from analyses by the Fed’s 12 regional branches, noted that economic activity increased at a “slight to moderate” pace in eight regions, remained unchanged in three, and experienced a moderate decline in one. “This marks an improvement over the last three report cycles where a majority of Districts reported little change,” the report stated.
The document highlighted that consumer spending generally rose at a “slight to moderate” rate, largely driven by holiday shopping. Several regions reported stronger spending among high-income consumers, fueled by purchases of luxury goods, travel, tourism, and experience-based activities. Conversely, low- and middle-income consumers are increasingly price-sensitive and more cautious in spending on non-essential goods and services.
Employment trends remain largely stable, with eight of the 12 regions reporting no changes in hiring. The report noted that companies are primarily filling existing vacancies rather than creating new jobs and continue to face challenges in recruiting qualified workers, particularly in engineering, health care, and other technical fields.
On the impact of artificial intelligence, the report stated that its current effect on employment is limited, with more substantial changes expected in the coming years rather than in the short term.
The Beige Book, compiled from analyses by the Fed’s 12 regional branches, noted that economic activity increased at a “slight to moderate” pace in eight regions, remained unchanged in three, and experienced a moderate decline in one. “This marks an improvement over the last three report cycles where a majority of Districts reported little change,” the report stated.
The document highlighted that consumer spending generally rose at a “slight to moderate” rate, largely driven by holiday shopping. Several regions reported stronger spending among high-income consumers, fueled by purchases of luxury goods, travel, tourism, and experience-based activities. Conversely, low- and middle-income consumers are increasingly price-sensitive and more cautious in spending on non-essential goods and services.
Employment trends remain largely stable, with eight of the 12 regions reporting no changes in hiring. The report noted that companies are primarily filling existing vacancies rather than creating new jobs and continue to face challenges in recruiting qualified workers, particularly in engineering, health care, and other technical fields.
On the impact of artificial intelligence, the report stated that its current effect on employment is limited, with more substantial changes expected in the coming years rather than in the short term.
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