Odaily Planet Daily News: On May 29th, local time, the Federal Reserve released the "Beige Book" of economic conditions. According to the "Beige Book", economic activity across the United States continued to expand from early April to mid-May, with most regions reporting a slight increase in economic activity and two regions reporting no change in economic activity. Among industries, retail spending was flat or slightly up, and auto sales were basically flat. Driven by increased leisure and business travel, travel and tourism in most parts of the United States have strengthened, but the hotel industry has a mixed outlook for the summer, non-financial service demand has increased, transportation service activities are mixed, port and rail activities have increased, and reports on truck and freight demand vary from place to place. In addition, housing demand across the United States rose slightly, and single-family home construction increased. The conditions in the commercial real estate industry have weakened due to supply concerns, tight credit conditions and rising borrowing costs. Energy activity was basically stable, and agricultural reports were mixed. Overall, the labor market saw a small increase in employment, with eight regions reporting a slight increase to moderate employment, and the remaining four regions reporting no change in employment. Prices rose moderately. Most regions said that due to consumers' resistance to further price increases and the average increase in cost prices, the profit margins of various industries have declined. The "Beige Book" shows that prices are expected to continue to rise moderately in the near future. (China Economic Net)
