Technical Analysis

Beige Book: Contacts generally expected little growth in the months ahead

  • Highlights of the Beige Book
Adam Button

Adam Button

Wednesday, 18/01/2023 | 19:02 GMT-0

18/01/2023 | 19:02 GMT-0

  • Overall economic activity was relatively unchanged since the previous report

  • Consumer spending increased slightly
  • Many Districts reported that supply chain disruptions had eased

  • Housing markets continued to weaken

  • Selling prices increased at a modest or moderate pace in most Districts

  • Many said that the pace of increases had slowed from that of recent reporting periods
  • Many retailers noted increased difficulty in passing through cost
    increases, suggesting greater price sensitivity on the part of consumers

  • On balance, contacts across Districts said they expected future inflation to moderate further in the year ahead.

  • Full text

This is painting a clear picture of an economy that’s demonstrably weakening. Does the Fed really need to keep hiking?

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