Five of 12 Fed Districts Report Flat or Declining Economic Activity, Beige Book Finds
U.S. economic activity seemed to soften in the past two months, with five of the Federal Reserve’s 12 regions reporting flat or declining activity, a Fed survey released Wednesday found.
U.S. economic activity seemed to soften in the past two months, with five of the Federal Reserve’s 12 regions reporting flat or declining activity, a Fed survey released Wednesday found.
That is three more weak districts than were reported in the last survey, in May. Employment also increased only slightly, according to the report Wednesday. Labor turnover declined, and contacts in several districts expect to be more selective about whom they hire and not backfill all open positions.
Meanwhile, U.S. jobless claims jumped to 243,000 and matched nearly one-year high in the wake of Hurricane Beryl. New claims rose by 20,000 in the seven days that ended July 13, up from 223,000 in the prior week, the government said Thursday, July 18.
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