Daily Management Review

More U.S. districts note slowdown in economic activity


07/18/2024


According to a regional assessment released by the Federal Reserve (Fed) on Wednesday, dubbed the Beige Book, most US regions' economies grew at a weak (slight) or modest (mild) pace between late May and early July.



Frydolin
Frydolin
Out of the twelve districts, seven indicated increased activity, and three more than in the last survey said the economy suffered or stayed the same.

There was minimal change in consumer expenditure during the previous reporting period. High car loan rates and cyberattacks on dealerships caused a drop in automobile sales in several areas. There was little demand for business and consumer loans in the majority of the regions.

In the meantime, the tourism sector expanded steadily and mostly in line with seasonal predictions. Little changed in the realm of residential and commercial real estate. Conditions in agriculture varied throughout the nation and were dependent on droughts in certain areas.

source: cnn.com