Beige Book: Economic Activity Expands Despite Mixed Manufacturing Performance



According to the most recent Beige Book from the Federal Reserve, economic activity continued to expand at a modest pace across most regions from mid-May to the end of June.

Labor market conditions remained stable as employment continued to grow modestly since the previous report and wage pressures remained modest to moderate. Price pressures remained slight. Consumer spending was generally positive but with some signs of softening.

Manufacturing activity was mixed but generally improved across districts. Real estate activity continued to strengthen, and banks reported overall increases in loan demand. Agricultural activity was mixed but generally improving, but the natural resources and energy sector remained weak.

However, the outlook was generally positive across broad segments of the economy including retail sales, manufacturing and real estate. Districts reporting on overall growth expect it to remain modest.


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