The U.S. economy continued growing at a “modest” rate in recent weeks, with consumers continuing to spend and a “generally positive” outlook overall despite disruptions caused by U.S. trade policy. That's according to the latest Beige Book, published by the Federal Reserve yesterday.
Employment continued to expand and “labor markets remained tight, with contacts across the country experiencing difficulties filling open positions,” the Fed reported. “The outlook generally was positive for the coming months, with expectations of continued modest growth, despite widespread concerns about the possible negative impact of trade-related uncertainty.”
In our area, ports along the East Coast saw robust activity, with one reporting record-breaking imports led by furniture. On the other hand, prices for Broadway theater admissions were down roughly 10 percent from a year earlier.
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