The Federal Reserve’s Beige Book, released Wednesday local time and cited by BlockBeats, said U.S. economic activity expanded at a modest pace since early July. Ten of the 12 Federal Reserve districts reported slight to moderate growth, while two districts saw no change. Consumer spending edged higher, though households became more price sensitive, and higher-end spending remained solid. Auto sales were weak, with soft confidence, elevated fuel prices, and rising financing costs listed as key headwinds. Manufacturing activity improved across most districts, and some regions reported strong demand tied to defense and data center orders. Labor market growth slowed and increased only slightly overall. Demand for workers held up in manufacturing and construction, but weakened in retail and hospitality. Most districts also reported moderate price increases, with businesses still facing pressure from energy, transportation, raw materials, and tariffs. Companies said the overall economic outlook remained positive, but they continued to watch uncertainty around energy prices, policy, and international conflicts.
The Federal Reserve’s Beige Book, released Wednesday local time, showed that U.S. economic activity grew modestly since early July, according to BlockBeats.
Of the 12 Federal Reserve districts, 10 reported slight to moderate growth, while two saw no change.
Consumer spending rose slightly while auto sales stayed weak
Consumer spending increased modestly, but households became more sensitive to prices. Higher-end spending remained strong. Auto sales were soft, with weak confidence, high fuel prices, and rising financing costs cited as the main drags.
Manufacturing activity picked up in most districts. Some regions said demand was strong for orders related to defense and data centers.
Labor growth slowed and price pressures persisted
Labor market growth slowed and rose only slightly overall. Demand for workers stayed relatively firm in sectors including manufacturing and construction, while demand declined in retail and hospitality.
On prices, most districts reported moderate increases. Cost pressure from energy, transportation, raw materials, and tariffs remained in place.
Businesses still see a positive outlook overall
Businesses said the overall economic outlook remained positive, though they continued to monitor uncertainty tied to energy prices, policy, and international conflicts.
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