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Beige Book - September 6, 2022
Economic activity was unchanged, on balance, since early July, with five Districts reporting slight to modest growth in activity and five others reporting slight to modest softening. Most Districts reported steady consumer spending as households continued to trade down and to shift spending away from discretionary goods and toward food and other essential items. Auto sales remained muted across most Districts, reflecting limited inventories and elevated prices. Hospitality and tourism contacts highlighted overall solid leisure travel activity with some reporting an uptick in business and group travel. Manufacturing ... (full story)
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FED BEIGE BOOK: PRICES REMAINED EXTREMELY HIGH, HOWEVER NINE DISTRICTS REPORTED SOME DECREASE IN THEIR RATE OF INCREASE.
— Breaking Market News (@financialjuice) September 7, 2022
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FED BEIGE BOOK: THE FORECAST FOR FUTURE ECONOMIC DEVELOPMENT REMAINED BLEAK, WITH CONTACTS PREDICTING ADDITIONAL SOFTENING OF DEMAND OVER THE NEXT SIX TO TWELVE MONTHS.
— Breaking Market News (@financialjuice) September 7, 2022
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FED BEIGE BOOK: WAGES INCREASED ACROSS ALL DISTRICTS, DESPITE WIDESPREAD CONCERNS OF A SLOWER RATE OF INCREASE AND TEMPERING COMPENSATION EXPECTATIONS.
— Breaking Market News (@financialjuice) September 7, 2022
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FED BEIGE BOOK: US HOUSEHOLDS CONTINUE TO TRADE DOWN.
— Breaking Market News (@financialjuice) September 7, 2022