Lates News

Federal Reserve Beige Book: From late May to early July, economic activity increased slightly. Economic activity in five regions has increased slightly or moderately, while economic activity in five regions remained steady, with a slight decline in the remaining two regions. This is an improvement from the previous report, in which economic activity in at least half of the regions had slightly declined. Uncertainty remains high, leading businesses to continue to be cautious. Consumer spending outside of the automotive sector decreased, showing a slight weakening overall. After consumers rushed to buy cars earlier this year to avoid tariffs, average car sales have slightly declined. Tourism activities have been mixed, manufacturing activities have slightly decreased, and non-financial services activities have remained relatively unchanged on average, but vary by region. Most regions saw a slight increase in loan volumes. Construction activities have slowed down in some regions due to rising costs. Most regions saw stable or minimal changes in home sales, while non-residential real estate activities remained mostly stable. Agricultural activities remain weak. Energy sector activities have slightly declined, with mixed trends in transportation activities. The outlook is neutral to slightly pessimistic, as only two regions expect economic activity to increase, while others expect it to remain steady or slightly weaken.