.png)
2 months ago
U.S. economic activity rose slightly in November, with three of the Federal Reserve's 12 districts reporting modest or moderate growth, offsetting two districts with flat or slightly declining activity, according to the Fed's latest Beige Book report.
The Wednesday report, which is one of eight released by the Fed annually, reported growth in economic activity and expectations for continued growth across geographies and sectors.
Businesses have optimism that demand will rise in the coming months, the report said.
Key Insights From November Fed Beige Book
Consumer spending was stable: Businesses that are consumer-oriented reported sensitivity to price increases and more focus on quality. Softer sales were reported by restaurants as consumers held back on spending for this segment. Apparel and snowmobiles also saw weakened sales in the period due to the weather.
Low Mortgage demand: The report found that mortgage demand was low with home loan demand mixed during the reporting period across districts.
Farm equipment: One of the key takeaways from the report is farm equipment sales being a headwind on investment activity with concerns that the prices ...
