Economic activity across the United States expanded at a modest rate since the previous report, the Federal Reserve stated on Wednesday in its latest Beige Book report. According to the document, seven out of the 12 US Districts experienced an increase in economic activity during the first months of 2024, while five noted no change in activity or decline.
Across most Districts, the economic outlook's expectations for the six to twelve months to come "were for slower growth" over "uncertainty around the upcoming election, domestic policy, geopolitical conflict, and inflation." In addition, prices and wages grew "modestly."
Most Districts reported that employment was flat or up slightly, while a few Districts reported modest employment growth. "Districts also reported widely disparate trends in manufacturing activity ranging from brisk downturn to moderate growth," the statement said.
