FOREX TradingCharts.com

Financial News: Fed's Beige Book Says U.S. Economic Growth Downshifted

Fed's Beige Book Says U.S. Economic Growth Downshifted Slightly

09/08/2021 - 14:34:00 (RTTNews)

(RTTNews) - Economic growth downshifted slightly to a moderate pace in early July through August, according to the Federal Reserve's Beige Book released on Wednesday.

The Beige Book, a compilation of anecdotal evidence on economic conditions in each of the twelve Fed districts, said the deceleration in economic activity was largely attributable to a pullback in dining out, travel, and tourism in most districts.

The deceleration in those sectors reflected safety concerns due to the rise of the Delta variant of the coronavirus, and, in a few cases, international travel restrictions.

Meanwhile, the Fed said other sectors of the economy where growth slowed or activity declined were those constrained by supply disruptions and labor shortages, as opposed to softening demand.

"In particular, weakness in auto sales was widely ascribed to low inventories amidst the ongoing microchip shortage, and restrained home sales activity was attributed to low supply," the Fed said.

The Beige Book also said inflation was reported to be steady at an elevated pace, as half of the districts characterized the pace of price increases as strong, while half described it as moderate.

Looking ahead, the Fed said businesses in most districts remained optimistic about near-term prospects, though there continued to be widespread concern about ongoing supply disruptions and resource shortages.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Powell Warns Of Upside Risks To Inflation During Congressional Testimony (53 min(s) ago)
(RTTNews) - Federal Reserve Chair Jerome Powell will warn members of the Senate Banking Committee ...Full Story»

German Consumer Confidence Strongest Since Apr 2020 (01 hr(s), 50 min(s) ago)
(RTTNews) - German consumer confidence is set to rise in October underpinned by strong improvement ...Full Story»

Ireland Retail Sales Grow In August (02 hr(s), 20 min(s) ago)
(RTTNews) - Ireland's retail sales grew in August, figures from the Central Statistics Office ...Full Story»

Iceland Inflation Rises In September (02 hr(s), 36 min(s) ago)
(RTTNews) - Iceland's consumer price inflation rose marginally in September, figures from Stat ...Full Story»

Hong Kong Exports Growth Slows In August (02 hr(s), 41 min(s) ago)
(RTTNews) - Hong Kong's merchandise exports grew at a softer pace in August, data from the Cen ...Full Story»

Sweden Retail Sales, Trade Surplus Increases (02 hr(s), 46 min(s) ago)
(RTTNews) - Sweden's retail sales increased in August and the trade surplus increased from las ...Full Story»

Hungary Jobless Rate Steady At 4.1% (03 hr(s), 25 min(s) ago)
(RTTNews) - Hungary's jobless rate remained unchanged during the June-August period, data from ...Full Story»

Austria Manufacturing Sector Growth Accelerates In September (03 hr(s), 34 min(s) ago)
(RTTNews) - Austria's manufacturing sector growth improved in September despite firms in the s ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Powell Warns Of Upside Risks To Inflation During Congressional Testimony

09/28/2021 - 08:33 AM (RTTNews)
(RTTNews) - Federal Reserve Chair Jerome Powell will warn members of the Senate Banking Committee ...Full Story>>

German Consumer Confidence Strongest Since Apr 2020

09/28/2021 - 07:36 AM (RTTNews)
(RTTNews) - German consumer confidence is set to rise in October underpinned by strong improvement ...Full Story>>

Ireland Retail Sales Grow In August

09/28/2021 - 07:06 AM (RTTNews)
(RTTNews) - Ireland's retail sales grew in August, figures from the Central Statistics Office ...Full Story>>

Iceland Inflation Rises In September

09/28/2021 - 06:50 AM (RTTNews)
(RTTNews) - Iceland's consumer price inflation rose marginally in September, figures from Stat ...Full Story>>

Hong Kong Exports Growth Slows In August

09/28/2021 - 06:45 AM (RTTNews)
(RTTNews) - Hong Kong's merchandise exports grew at a softer pace in August, data from the Cen ...Full Story>>

Do not sell my personal information

Copyright © 2021. 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.