Fed’s Beige Book Shows Resilient Consumer, Cooling Labor Market
- Majority of districts saw little or no change in activity
- Many firms indicated ‘increased consumer price sensitivity’
The Marriner S. Eccles Federal Reserve building stands in Washington, DC.
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
Resilient consumer spending helped propel the US economy in recent weeks, offsetting weakness in other sectors like manufacturing, the Federal Reserve said in its Beige Book survey of regional business contacts.
“Consumers delivered some seasonal relief over the holidays by meeting expectations in most Districts and by exceeding expectations in three Districts, including in New York,” according to the report released Wednesday.