US Economy Got a Strong Start in 2023, Fed’s Beige Book Says
- Total activity ‘increased slightly’ on spending, manufacturing
- However, districts are less optimistic for the months ahead
A US flag at an appliance and TV store in Clarksville, Indiana.
Photographer: Luke Sharrett/BloombergThis article is for subscribers only.
The economy proved resilient to start the new year, marked by steady consumer spending and stabilizing manufacturing activity, contacts surveyed in the Federal Reserve’s latest Beige Book said.
“Overall economic activity increased slightly in early 2023,” the Fed said Wednesday in the report, published two weeks before each meeting of the policy-setting Federal Open Market Committee.