Federal Reserve Beige Book Shows US Economic Growth

The Federal Reserve's latest Beige Book report shows slight economic growth in the US, with three of its 12 districts experiencing modest to moderate growth, offsetting stagnation in others. Businesses remain optimistic about future demand, despite price sensitivity among consumers and challenges in passing higher costs onto customers. Consumer spending has remained stable, although certain sectors like restaurants and apparel reported softer sales. The report also highlights challenges in the farm equipment sector and low mortgage demand, while the energy sector saw flat oil and gas activity but increased electricity generation demand. Employment levels were stable, with modest wage increases and reduced worker turnover contributing to a slowdown in hiring demand. The overall outlook is cautiously optimistic, with modest growth in economic activity and price increases.