The US economy has slowed Regarding the October report Beige Book, as stated this Wednesday by the United States Federal Reserve (Fed) in reference to the document that provides a detailed evaluation of the economy of the country’s 12 regional central banks. The North American issuing institute has indicated that four districts recorded “modest growth”two had a “flat to slightly downward” evolution, and the remaining six suffered “slight drops” in activity. In this way, Retail spending and auto sales have offered ‘mixed’ signals and the sale of non-essential products and durable goods, such as furniture or appliances, is reduced after increasing “price sensitivity” on the part of consumers. For its part, tourist activity was “generally healthy”, while demand for transport services was “weak”. The Fed’s contacts with financial institutions information “slight falls” in credit demand for companies, especially real estate. The Quality of Consumer Credit, Still, Has Been Described as “Reasonably Healthy,” Although Delinquency Rates Grew During the Period Analyzed. In addition, Commercial Inm OBILIARIO Secretariat Continued to Slow Down by Offices and “Multifamily Activity,” Therefore The inventory of homes for sale grew after fewer residential sales were recorded. Afterwards, the industry also showed “mixed” signs and reported a worsening future outlook for the sector. The primary sector exhibited “stable to slightly positive” conditions after reporting higher sales prices, although the volume of the harvests had a “mixed” sign. In short, general confidence six and twelve months ahead regarding the evolution of the world’s leading economy has been damaged, according to the Fed.Demand for labor continued to decline, as most districts recorded “moderate to no” overall employment growth. Most reported an increase in job seekers, and several noted that worker retention had also improved. Thus, workforces were reduced through layoffs or incentivized dismissals, and some companies dispensed with their most unproductive employees. However, several districts continued to describe the labor market as “tight” and with a shortage of skilled workers.Wage growth remained “modest to moderate” in most districts, since in many the pressures decreased or even the salaries of newly hired workers decreased. However, some pressures and difficulties remain in attracting and retaining talent. In addition, price increases largely contained in all districts, although prices remained “high.” Freight and transportation costs decreased, while that of “various” foodstuffs increased. Several of the contacts noted that the costs of construction inputs, such as steel and lumber, had stabilized or even dropped. On the contrary, the increase in the cost of public services and insurance was “notable” in all districts. Service providers were able to pass on the increase in costs more easily than in the industry. Once upon a time, two districts identify rising cost of debt as obstacle to business growth. Most regions expect price moderation to continue into next year.
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