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According to the Federal Reserve's Beige Book released on Wednesday, economic activity has continued to increase in most of the US, although the report also hinted at a deterioration in optimism. The Beige Book, a compilation of anecdotal evidence on economic conditions in the twelve Fed districts, said eight of the twelve districts reported modest to moderate growth. With several districts reporting more holiday traffic compared with last year, the report said non-auto retail sales grew modestly, while auto sales were flat. While the Fed said most districts indicated a continued expansion in manufacturing, the pace of growth slowed, particularly in the auto and energy sectors. Looking ahead, the Beige Book said outlooks generally remained positive, but many districts reported that contacts had become less optimistic. The drop in optimism reflected increased financial market volatility, rising short-term interest rates, falling energy prices, and elevated trade and political uncertainty. Powered by Commodity Insights
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