According to Odaily Planet Daily, the Federal Reserve Beige Book maintained the growth characteristics of the US economy since February, which was a "slight" expansion, while continuing a series of generally pessimistic descriptions of economic activity. However, this description has actually improved - 10 regions reported growth and 2 stagnated, while the February report showed that 8 regions grew, 3 were flat, and 1 shrank.
People are clearly more price sensitive and more willing to cut back on discretionary spending, and overall, participants are "cautiously optimistic" about economic growth. Employment is seen as growing at a "slight" pace, with labor supply improving but shortages still present in some industries. Wage pressures continue to ease, with labor cost growth returning to long-term averages in some regions.
