December 04, 2024 at 07:02PM
Economic activity rose slightly in most Districts, with modest growth in some areas offsetting flat/declining activity elsewhere
Employment levels flat to slightly higher, hiring subdued amid low turnover
Wage growth softened to modest pace, except robust gains for entry-level and skilled trade positions
Price increases modest; firms report greater difficulty passing costs to customers
Consumer spending stable but price sensitivity increasing
Manufacturing activity mixed across regions
Commercial real estate markets showing signs of stabilization in some areas
Notable Details:
Consumer price sensitivity rising, including quality sensitivity
Insurance costs remain key inflation pressure point
Businesses stockpiling inventory ahead of potential import tariffs
Data center demand driving robust electricity usage growth
Farm economy remains challenged with weak equipment sales
Outlook:
Business expectations for growth improved moderately
Most districts optimistic about demand increasing in coming months
Some uncertainty around potential trade/immigration policy changes
Firms cautious on hiring plans despite positive demand outlook
This article was written by Adam Button at www.forexlive.com.
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