US Federal Reserves Beige Book: economic outlook is relatively optimistic and growth in most regions is moderate

category:Finance
 US Federal Reserves Beige Book: economic outlook is relatively optimistic and growth in most regions is moderate


The growth of consumer spending remained positive, retail sales in some regions tended to be stable, and tourism activities rebounded slightly. Demand for cars remained stable, but insufficient inventory began to limit sales. The agricultural situation is mixed, as some areas are affected by drought and crop harvests are being hit.

The overall economic outlook of each region is relatively optimistic, but the uncertainty is still great. Restaurant operators in many areas are worried that business will be affected by lower temperatures as consumers eat less outdoors. Banks, for various reasons, are worried that default rates may rise in the coming months.

Although the growth is still slow, employment has increased in almost all regions, of which the employment growth of manufacturing enterprises is the most stable. With layoffs and temporary vacations, and health and child care problems, the labor market in most regions is still tight, so many companies offer more flexible schedules. In particular, the salary increase to some of the higher salary or the lower salary level of the company is called.

Since the last report, the average price of each region has been warm and rising. Generally speaking, the growth of raw material prices is faster than that of consumer prices, but for some industries, especially construction, manufacturing, retail and wholesale industries, consumers are facing higher price costs. On the whole, the consumer prices of residents in various regions have risen slightly, among which the prices of food, cars and household appliances have increased significantly. The retail price of gasoline decreased, and the price of raw materials increased to varying degrees, which was mainly driven by the increase of steel and wood costs. Due to the novel coronavirus pneumonia epidemic, most enterprises in the region continue to maintain additional preventive expenditure, including personal protective equipment, sanitation, testing equipment and remote support for technical work. Source of this article: Yang Bin, editor in charge of the first finance and Economics_ NF4368

Since the last report, prices in various regions have been on average warm and up. Generally speaking, the growth of raw material prices is faster than that of consumer prices, but for some industries, especially construction, manufacturing, retail and wholesale industries, consumers are facing higher price costs. On the whole, the consumer prices of residents in various regions have risen slightly, among which the prices of food, cars and household appliances have increased significantly. The retail price of gasoline decreased, and the price of raw materials increased to varying degrees, which was mainly driven by the increase of steel and wood costs. Due to the novel coronavirus pneumonia epidemic, most enterprises in the region continue to maintain additional preventive expenditure, including personal protective equipment, sanitation, testing equipment and remote support for technical work.