Federal Reserve Beige Book: Economic activity has remained largely unchanged in recent weeks, and consumer polarization has intensified

PANews reported on November 27 that according to the Golden Ten report, the Federal Reserve’s Beige Book showed that U.S. economic activity has remained basically unchanged in recent weeks. Except for high-end consumer groups, overall consumer spending has further declined. The Beige Book pointed out that the U.S. job market weakened slightly and price levels maintained a moderate increase. The Federal Reserve stated in the report: "The overall economic outlook remains stable, with some surveyed companies warning of the risk of an economic slowdown in the coming months, and the manufacturing industry showing cautious optimism." Due to the interruption of the collection of key economic data due to the longest government shutdown in U.S. history that lasted until November 12, field surveys reflecting the actual conditions of companies and consumers have attracted much attention in recent months. Fed officials will not have complete labor market and inflation data for October-November before their December policy meeting.
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