WASHINGTON, D.C.: US economic activity has "increased slightly" since the start of the year, though price pressures have persisted, the US Federal Reserve (Fed) said Wednesday in its regular summary of economic conditions. Since early January, US economic activity has "increased slightly, on balance," the Fed announced in its regular update of economic conditions known as the "beige book." In total, eight of the 12 Fed districts reported "slight to modest growth in activity," while three reported no change and one saw a slight softening in activity, it added. Although overall price pressures "persisted," the Fed found that several districts reported "some degree of moderation in inflation." "But the economic outlook is uncertain, and ongoing progress toward our 2 percent inflation objective is not assured," he added.

Source: Manila Times March 08, 2024 04:07 UTC