fed beige book us growth steady business more optimistic
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Fed Beige Book: US growth steady, business more optimistic

Arab Today, arab today

Arab Today, arab today Fed Beige Book: US growth steady, business more optimistic

Job seekers check out opportunities at a job fair
Washington - AFP

The US economy is growing steadily with little sign of change of pace, but businesses are generally more optimistic about the future, according to the Federal Reserve's newest Beige Book report Wednesday.
The survey of regional economies reiterated the "modest to moderate" description of activity of the past half-year, but noted that in a number of regions, there are some signs of tightening in the labor market, with companies having trouble filling skilled positions.
The report, which is used by the Federal Open Market Committee to help shape monetary policy, was cautiously upbeat, as has been the case since the end of the first quarter, when extremely harsh winter weather forced the economy to contract.
The rebound since then has been firm but its strength remains in question, with the survey, covering late July and August, noting only "slight to moderate" gains in consumer spending and real estate and construction weakness in half of the Fed's 12 districts.
It said that the service industry, excluding banks, reported improving business, but manufacturing was more mixed.
However, the report noted that "among districts reporting on their firms' near-term expectations, the manufacturing outlook remained generally upbeat."
The report underscored that, even with the pace of activity largely unchanged, there were rising expectations for the next half-year.
Five districts reported that contacts "generally remained optimistic about future growth; most of the other districts cited various examples of ongoing optimism from specific sectors."
Among key indicators of activity, auto sales in some areas were hot but in others were beginning to fall from recent peaks; tourism was widely improved with higher hotel occupancy rates ; and bank lending was on the rise, though mainly for car and truck purchases.
On the other hand, home loan demand had fallen off, and home sales and construction was also largely flat.
And though a number of districts reported shortages of workers with specific skills -- information technology workers, truck drivers, energy sector workers and construction workers -- wages were mostly unchanged, suggesting some slack remains in the jobs market.
Likewise, the Beige Book said, inflation was tame: "Overall, price pressures remained largely unchanged."
Fed Chair Janet Yellen has repeatedly cited continued slack in employment, and little inflationary pressure, to justify the FOMC holding its benchmark federal funds interest rate at the zero level to support the economy.
The FOMC next meets to review monetary policy on September 16-17.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

fed beige book us growth steady business more optimistic fed beige book us growth steady business more optimistic

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

fed beige book us growth steady business more optimistic fed beige book us growth steady business more optimistic

 



GMT 10:06 2012 Saturday ,28 July

Querrey advances at ATP LA Open

GMT 21:15 2017 Thursday ,01 June

Trump condemns deadly Kabul explosion

GMT 02:15 2017 Thursday ,24 August

Is your country on the Qatar free entry list of 80?

GMT 19:48 2016 Monday ,03 October

Controversial boxing champ Tyson Fury retires

GMT 08:20 2015 Tuesday ,08 December

PC market woes show no sign of easing

GMT 17:27 2017 Tuesday ,25 April

20 Yemeni soldiers killed, injured in explosion

GMT 11:52 2017 Saturday ,30 December

OIC condemns Mar Mina Church attack

GMT 00:03 2017 Saturday ,25 March

Arab Meeting to Examine Anti-Corruption Methods

GMT 13:12 2017 Thursday ,20 April

Deputy premier meets Arab League chief

GMT 14:13 2014 Friday ,10 January

Opel Astra GTC

GMT 18:27 2016 Tuesday ,02 August

Turkish Foreign Minister arrives in Islamabad

GMT 11:27 2016 Tuesday ,13 December

Saudi woman arrested for challenging social norms
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday