us economy shows modest growth
Last Updated : GMT 20:41:34
Arab Today, arab today
Arab Today, arab today

US economy shows 'modest' growth

Arab Today, arab today

Arab Today, arab today US economy shows 'modest' growth

Job seekers meet with recruiters during the HireLive Career Fair
Washington - AFP

The Federal Reserve's latest snapshot on the US economy shows "modest" expansion and a tightening jobs market, laying a path for the first increase in interest rates since 2006.

The Fed released its Beige Book report Wednesday as Chair Janet Yellen, in a speech, signaled the rate hike could come in two weeks at the Federal Open Market Committee's policy meeting on December 15 and 16.

The report, a collection of anecdotal evidence from the central bank's 12 districts, provides some of the context for the FOMC policymakers in deciding monetary policy.

"Economic activity increased at a modest pace in most regions of the country since the previous Beige Book report" in October, said the report, based on information gathered before November 20.

Consumer spending, the driver of two thirds of US economic activity, increased in almost all districts, with automobile sales remaining "robust".

"Labor markets continued to tighten modestly," the report said, reiterating limited wage pressures except for skilled occupations and for workers that were in short supply.
The strength of the dollar was blamed in part for weakness in the manufacturing sector. US exports have become relatively more expensive in a global market suffering from an economic slowdown.

"The strong dollar, low commodity prices, and weak global demand were named by several districts as factors for constrained demand," the report said.

Tourism was mixed, showing growth in the Richmond, Atlanta, Minneapolis and Dallas districts, while the New York district saw flat activity at or below the level of a year ago amid "sluggish" consumer spending.

Housing markets continued to be a bright spot in the economy, improving at "a moderate pace" with a modest rise in home prices.

Overall prices were stable, although some prices were lower due to further declines in commodity and energy prices as well as the strong dollar, the report said.

"On balance, the December Beige Book provides little new information on economic activity and is unlikely to be impactful for policy," said Jesse Hurwitz at Barclays Research.

Yellen echoed the report with comments saying she expects the US economy to continue to grow at a similar moderate pace over the coming few years.

She said the economy has expanded at an annual rate of about 2.25 percent during the first three quarters of this year and should continue at that level.

"Many economic forecasters expect growth roughly along those same lines in the fourth quarter," she told members of the Economic Club of Washington.

"I anticipate continued economic growth at a moderate pace that will be sufficient to generate additional increases in employment, further reductions in the remaining margins of labor market slack, and a rise in inflation to our two percent objective," she added.

 

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*

us economy shows modest growth us economy shows modest growth

 



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*

us economy shows modest growth us economy shows modest growth

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Visit Jamaica for more than just sun

GMT 09:45 2017 Tuesday ,21 November

Visit Jamaica for more than just sun
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today UN warns of conflict in Gaza

GMT 08:39 2017 Tuesday ,21 November

UN warns of conflict in Gaza
Arab Today, arab today Missouri problem mirrors woes

GMT 06:46 2017 Tuesday ,21 November

Missouri problem mirrors woes
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today VW says will invest over 34bn euros

GMT 07:19 2017 Tuesday ,21 November

VW says will invest over 34bn euros
Arab Today, arab today Driverless, electric future just round

GMT 02:45 2017 Monday ,20 November

Driverless, electric future just round
Arab Today, arab today Fedra happy for “Between Two Worlds” success

GMT 09:23 2017 Saturday ,18 November

Fedra happy for “Between Two Worlds” success
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 12:15 2017 Friday ,17 November

Mona Abdel Ghany increased artistic activities

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 00:54 2017 Monday ,20 November

Mideast in danger as London explores

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
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
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday