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2 Dec 2015
Fed's Beige Book: US economy expands at “modest pace”
FXStreet (Córdoba) - The US economy expanded at a modest pace from mid-October through Nov 20, according to the Beige Book survey, with 10 of the 12 Fed districts reporting moderate or steady growth.
The Beige Book offered a mixed but generally positive view of conditions across the country, with manufacturing sector hurt by a strong dollar, low commodity prices, and weak global demand.
However, the survey showed labor markets continued to tighten modestly. "Many districts indicated that increased hiring was driven by temporary and entry-level positions that were being fulfilled by staffing firms," the Fed said.
Most Districts said that wage pressures increased only for skilled occupations and for workers that were in short supply, while prices were generally steady.
Beige Book was prepared at the Federal Reserve Bank of Richmond and based on information collected on or before November 20, 2015. It will be used for assessment in the FOMC Dec 15-16 meeting.
The Beige Book offered a mixed but generally positive view of conditions across the country, with manufacturing sector hurt by a strong dollar, low commodity prices, and weak global demand.
However, the survey showed labor markets continued to tighten modestly. "Many districts indicated that increased hiring was driven by temporary and entry-level positions that were being fulfilled by staffing firms," the Fed said.
Most Districts said that wage pressures increased only for skilled occupations and for workers that were in short supply, while prices were generally steady.
Beige Book was prepared at the Federal Reserve Bank of Richmond and based on information collected on or before November 20, 2015. It will be used for assessment in the FOMC Dec 15-16 meeting.