11/29/2023, 8:01 PM (Source: TeleTrader)
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Fed: Economic activity slowed

The United States Federal Reserve revealed on Wednesday in its November Beige Book that the economic activity in the country "slowed since the previous report," while the economic outlook for the six to twelve months to come "diminished over the reporting period."

Out of the 12 districts, four saw "modest growth," two reported that the activity was "flat to slightly down," while the remaining six saw "slight declines." Talking about the labor markets, the Fed shared that labor demand eased further, with most districts registering "flat to modest increases in overall employment," while wage growth "remained modest to moderate in most Districts." Nonetheless, "some wage pressures" persisted.

Furthermore, the Fed stated that although price increases "largely moderated" across districts, prices stayed "elevated." Most districts are anticipating price increases to "continue into next year."

Baha Breaking News (BBN) / AY