MNI BRIEF: Economic Activity 'Little Changed' - Fed Beige Book
MNI (WASHINGTON) - U.S. economic growth appeared lackluster since early September while prices pressures continued to ease and employment increased slightly, according to the latest Federal Reserve Beige Book report Wednesday.
"On balance, economic activity was little changed in nearly all Districts since early September, though two Districts reported modest growth," the report said. "Inflation continued to moderate with selling prices reportedly increasing at a slight or modest pace in most districts."
The Fed said employment "increased slightly" over the reporting period, with more than half Fed districts reporting slight or modest growth. "Many Districts reported low worker turnover, and layoffs reportedly remained limited," the Fed said. (See MNI INTERVIEW: More Cuts Before Fed Fine Tunes Neutral-Mester)