Federal Reserve Beige Book Highlights Economic Uncertainty

According to Odaily, the Federal Reserve's Beige Book indicates that economic activity has slightly to moderately declined in half of the surveyed regions. Three regions reported no change, while another three noted slight growth. All regions highlighted high levels of economic and policy uncertainty, leading businesses and households to exercise caution in decision-making. Manufacturing activity experienced a slight decline. Consumer spending reports were mixed, with most regions noting either a slight decrease or no change in spending. However, some areas reported an expected increase in spending on goods affected by tariffs. Residential real estate sales remained largely unchanged, with most regions reporting steady or slowing construction activity for new homes. Reports on bank loan demand and capital expenditure plans varied. While port activity was robust, transportation and warehousing activities in other regions showed mixed results.