Beige Book: More of the Same

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Today’s release of the Federal Reserve’s Beige Book really wasn’t worth the wait. The twelve Federal Reserve Districts reported little change in economic activity since the previous publication. Districts reported either slight increases or slight decreases in economic conditions, but on balance, nothing in the way of significant movement one way or the other. Labor markets remained sluggish across all districts and consumer spending continued to be under pressure. Price pressures continued to hurt both businesses and consumers. A few districts noted auto manufacturing difficulties due to supply shortages. Agricultural sectors remained stressed but some producers expressed optimism that crop prices would increase and that trade tensions would moderate.

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