US economic activity rises slightly to moderately in recent weeks: Fed

US economic activity rose slightly to moderately between late May and early July, employment increased and companies and households indicated that inflation may have improved, according to the latest Beige Book released by the Federal Reserve (Fed).“Contacts generally expected the economy to continue to expand in the coming months, but several districts noted elevated uncertainty in the outlook for fuel costs,” the Beige Book, which collects qualitative economic data from all 12 of its regional banks to give policymakers a real-time read on current condition, noted.

US economic activity rose slightly to moderately between late May and early July, employment increased and companies and households indicated that inflation may have improved, the Federal Reserve’s Beige Book said.
Consumer spending rose across the board, manufacturing grew moderately, construction and real estate activity expanded slightly, and service sectors expanded modestly.

Consumer spending rose across the board, manufacturing grew moderately, construction and real estate activity expanded slightly, and service sectors expanded modestly.

On inflation, nine of the 12 Fed districts reported moderate price increases, two reported robust growth, and one reported only slight increases.

Energy expenses, higher transportation costs and geopolitical friction, particularly in the Middle East, have made non-labour input costs climb.

Some Fed districts flagged rising customer price sensitivity, and combined with recent declines in fuel prices, several expressed expectations that inflation would slow.

Fibre2Fashion News Desk (DS)