Indicators
Fed’s Beige Book Shows Stagnant, Declining US Economic Activity
- Employers more selective with hiring but layoffs remain rare
- Prices and wages rose modestly in recent weeks, report shows
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Economic activity was flat or declining across most regions in the US in recent weeks, the Federal Reserve said in its Beige Book survey of regional contacts.
Employment levels were generally flat to up slightly, according to the report released Wednesday. While reports of layoffs were rare, some firms noted cutting shifts and hours, leaving advertised positions unfilled or reducing headcount through attrition.