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Most Fed districts say expansion has been modest or moderate

Most Federal Reserve Districts pointed out that the expansion of economic activity in November has been moderate or moderate, showed on Wednesday the Fed Beige Book.

Additional findings summarized by Reuters

“In most districts, businesses reported moderate to moderate price increases for inputs, while sales prices for final products increased at a slight to moderate pace.”

“Almost all districts reported that employment increased, but for most, the pace was slow.”

“The companies that were hiring continued to report difficulties attracting and retaining workers.”

“Four districts said there was little or no growth, five indicated that activity remained below pre-crisis levels at least in some sectors.”

“Childcare and virtual education needs were widely cited as a major problem for the workforce.”

“Philadelphia and three Midwestern districts saw a slowdown in activity in early November as COVID-19 cases rose.”

“Women were particularly affected by challenges in accessing child care, leading some companies to offer more flexible working hours.”

“Most districts reported that the outlook for businesses remained positive, but optimism has faded amid the pandemic wave.”

“In several districts, businesses feared that employment levels would fall during the winter before recovering further.”

Market reaction

The US Dollar Index It largely ignored this report and was last seen shedding 0.18% on the day at 91.15.

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