The Federal Reserve collects qualitative data on the status of the economy across its twelve districts eight times a year to be published in the Beige Book.
Furthermore, respondents to the most current edition of the Beige Book said that the U.S. economy contracted as the last few weeks of the month drew near. Six of the twelve regional banks indicated “slight declines” in the economic activity within their districts, while two of the banks stated that local economic trends were “flat to slightly down,” according to the survey.
The research, which was made public on Wednesday, Nov. 29, states that price increases have slowed down. These little gains are expected to continue for the remainder of the forthcoming year.
The Federal Reserve stated that overall, as consumers became more price sensitive, sales of durable products, such as furniture and appliances, and discretionary items decreased.
The research, which was made public on Wednesday, Nov. 29, states that price increases have decreased. These little gains are expected to continue for the remainder of the forthcoming year.
Overall, the Federal Reserve said that sales of durable goods like appliances and furniture, as well as discretionary items, fell as customers became more price conscious.
