FOREX TradingCharts.com

Financial News: Fed Says U.S. Economy Expanding At Slight To

Fed Says U.S. Economy Expanding At Slight To Modest Pace

10/16/2019 - 14:26:00 (RTTNews)

(RTTNews) - Two weeks ahead of the Federal Reserve's next monetary policy meeting, the central bank's Beige Book said Wednesday the U.S. economy expanded at only a slight to modest pace over the past month.

The Beige Book, a compilation of anecdotal evidence on economic conditions in the twelve Fed districts, noted business activity varied across the country.

Reports from districts representing states in the southern and western U.S. were generally more upbeat than districts representing the Midwest and Great Plains, the Fed said.

Household spending was solid and tourism and travel-related spending rose modestly, but the Fed said manufacturing activity continued to edge lower due to persistent trade tensions and slower global growth.

The Fed said agricultural conditions also continued to deteriorate amid the ongoing impacts of adverse weather, weak commodity prices, and trade disruptions.

Looking ahead, the Beige Book said business contacts mostly expect the economic expansion to continue, although many lowered their outlooks for growth in the coming 6 to 12 months.

The report said employment rose only slightly over the past month, with labor market tightness across skill levels and occupations restraining hiring.

A number of districts reported that manufacturers cut jobs because orders were soft, but some firms chose to reduce hours rather than staff levels due to concerns about the longer-term availability of workers.

The Fed said wages rose moderately in most districts even as employers continued to use non-wage approaches such as bonuses and benefits to attract and retain talent.

On the inflation front, the Beige Book said most districts characterized the recent pace of price increases as modest.

While both retailers and manufacturers noted rising input costs partly due to new tariffs, retailers had relatively more success passing the cost increases on to customers.

The release of the Beige Book comes ahead of the Fed's next monetary policy meeting scheduled for October 29 and 30.

CME Group's FedWatch Tool currently indicates an 89.3 percent chance the Fed will lower interest rates by another 25 basis points.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2019 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Italy Industrial Orders Rise For Second Month (14 min(s), 22 sec(s) ago)
(RTTNews) - Italy's industrial orders rose for the second straight month in September, figures ...Full Story»

Swiss Exports Fall In October (29 min(s), 22 sec(s) ago)
(RTTNews) - Switzerland's exports declined in October after rising in the previous month and i ...Full Story»

Norway Consumer Confidence Falls In Q4 (44 min(s), 22 sec(s) ago)
(RTTNews) - Norway's consumer confidence fell in the fourth quarter after rising in the previo ...Full Story»

Eurozone Current Account Surplus Falls In September (01 hr(s), 40 min(s), 22 sec(s) ago)
(RTTNews) - The euro area current account surplus declined in September largely due to the fall in ...Full Story»

Finland's Budget Balancing Target Seems Unlikely: IMF (01 hr(s), 57 min(s), 22 sec(s) ago)
(RTTNews) - Finland's government has set a target to balance the public finances by 2023, but ...Full Story»

Europe Car Sales Increase In October: ACEA (03 hr(s), 59 min(s), 22 sec(s) ago)
(RTTNews) - Europe's passenger car sales increased to the highest October level on record sinc ...Full Story»

European Economics Preview: Eurozone Current Account Data Due (42 min(s), 38 sec(s) ago)
(RTTNews) - Current account data from euro area is due on Tuesday, headlining a light day for the ...Full Story»

BoJ Has Room To Cut Rates Further, Says Kuroda (58 min(s), 38 sec(s) ago)
(RTTNews) - Bank of Japan Governor Haruhiko Kuroda said on Tuesday that the central bank still has ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Italy Industrial Orders Rise For Second Month

11/19/2019 - 05:56 AM (RTTNews)
(RTTNews) - Italy's industrial orders rose for the second straight month in September, figures ...Full Story>>

Swiss Exports Fall In October

11/19/2019 - 05:41 AM (RTTNews)
(RTTNews) - Switzerland's exports declined in October after rising in the previous month and i ...Full Story>>

Norway Consumer Confidence Falls In Q4

11/19/2019 - 05:26 AM (RTTNews)
(RTTNews) - Norway's consumer confidence fell in the fourth quarter after rising in the previo ...Full Story>>

Eurozone Current Account Surplus Falls In September

11/19/2019 - 04:30 AM (RTTNews)
(RTTNews) - The euro area current account surplus declined in September largely due to the fall in ...Full Story>>

Finland's Budget Balancing Target Seems Unlikely: IMF

11/19/2019 - 04:13 AM (RTTNews)
(RTTNews) - Finland's government has set a target to balance the public finances by 2023, but ...Full Story>>
Copyright © 2019. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.