- Analytics
- News and Tools
- Market News
- Beige Book: Overall economic activity increased slightly since late May
Beige Book: Overall economic activity increased slightly since late May
According to Federal Reserve’s Beige Book, “overall economic activity increased slightly since late May.” It added that “reports on consumer spending were mixed; growth was generally observed in consumer services, but some retailers noted shifts away from discretionary spending.”
This Beige Book will be used for the next FOMC meeting on July 25-26. It mentioned that employment increased modestly and prices increased at a modest pace overall, with “ several Districts noted some slowing in the pace of increase.”
Key takeaways from the Beige Book:
“Business activity expanded at a slight pace in recent weeks, with modest increases in employment and roughly even prices. Consumer spending increased by a small margin, as retail sales increased modestly and tourism was flat.”
“Manufacturers reported mixed results but sales growth was moderate on average.”
“Residential home sales increased slightly in May from the previous month but remained below seasonal norms.”
“The outlook was mostly optimistic among contacts outside of real estate.”
“Employment increased modestly and wage growth continued to moderate as labor market imbalances eased further.”
“Wage pressures were described as stable or, in most cases, declining, as wage growth rates continued to fall back to more moderate levels.”
“Prices were mostly stable, with some exceptions, as cost pressures abated further.”
“The outlook called for further moderation of pricing pressures moving forward.”
Market reaction:
The US Dollar is experiencing a sharp decline on Wednesday, largely affected by the US inflation data. The DXY is down by more than 1%, trading at its lowest level since April 2022.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
