(Finance) – Overall, theeconomic activity in the United States it “stayed almost unchanged in almost all districts since the beginning of September”. This was stated by the Federal Reserve in Beige Book of October, the report on the state of the US economy which will form the basis for the next monetary policy decisions.
Most districts reported a decline inmanufacturing activity. The activity in banking sector has been generally stable or rising slightly, and loan demand has been mixed, with some districts seeing an improving outlook due to falling interest rates.
The reports on consumer spending have been “mixed,” with some districts seeing changes in the composition of purchases, mostly toward less expensive alternatives.
The activity of real estate market has “generally straight“: Inventory continued to rise across much of the nation, and home values remained largely stable or increased slightly. However, uncertainty about where mortgage rates are going has kept some buyers on the sidelines, and housing shortages affordable housing has remained a persistent problem in many communities.
The strike of short-term dock workers caused only small temporary disruptions. The damage caused byhurricane they have impacted crops and caused pauses in business and tourism in the southeast.
Overall, theemployment And “increased slightly” during this reporting period, with more than half of the districts reporting slight or modest growth and the remaining districts reporting little or no change. Many districts reported low worker turnover and layoffs remained limited. Demand for workers eased somewhat, with hiring focused primarily on replacement rather than growth. The availability of workers improved, as many contacts reported that it had become easier to find the workers they needed. However, contacts noted that it remained difficult to find workers with certain skills or in some sectors, such as technology, manufacturing and construction.
THE’inflation has “continued to moderate” with sales prices rising at a slight or modest pace in most districts. However, prices of some food products, such as eggs and dairy products, increased more sharply. House prices increased in many districts, while rents remained stable or fell slightly. Many districts noted increasing price sensitivity among consumers. Input prices generally “increased moderately.” insurance and healthcare costs. Several districts reported that “i Input prices have generally increased faster than selling pricessqueezing companies’ profit margins.”