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MNI BRIEF: US Economy, Inflation Slowed in Nov- Beige Book

(MNI) WASHINGTON

U.S. economic activity and the pace of price increases slowed in November, the Federal Reserve said Wednesday in a report summarizing recent conversations with businesses and community groups.

Activity was "flat or up slightly" from the last Beige Book report six weeks ago, while down from the modest average pace of growth in the prior period. Consumer prices rose at a "moderate or strong pace" in most regions, but "the pace of price increases slowed on balance, reflecting a combination of improvements in supply chains and weakening demand," the Beige Book said.

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U.S. economic activity and the pace of price increases slowed in November, the Federal Reserve said Wednesday in a report summarizing recent conversations with businesses and community groups.

Activity was "flat or up slightly" from the last Beige Book report six weeks ago, while down from the modest average pace of growth in the prior period. Consumer prices rose at a "moderate or strong pace" in most regions, but "the pace of price increases slowed on balance, reflecting a combination of improvements in supply chains and weakening demand," the Beige Book said.

Keep reading...Show less