Summary
- The Fed’s Beige Book said the U.S. economy is continuing a moderate growth trend overall.
- Only seven of the 12 districts reported an increase in economic activity, indicating fewer regions are growing than in January.
- Businesses expect a slower pace of price increases in the near term, and some said they are expanding adoption of artificial intelligence (AI) and automation technologies.
Forecast Trend Report by Period
The U.S. Federal Reserve (Fed) released its Beige Book, which summarizes economic conditions across its 12 districts. The report indicated that the U.S. economy has continued to post moderate growth overall.
According to the Beige Book released on the 4th (local time), seven of the 12 districts reported that economic activity increased at a slight to moderate pace. This is down from the January survey, when nine districts reported growth.
In some districts, signs of weakening were observed due to heightened economic uncertainty, increased consumer sensitivity to prices, and reduced spending by low-income households.
The labor market remained broadly stable. Some companies were found to be expanding the adoption of artificial intelligence (AI) and automation technologies to improve efficiency.
On prices, the report said businesses expect the pace of price increases to ease somewhat in the near term.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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