Published 3 years ago

U.S. economy "downshifted slightly" in August -Fed's Beige Book

Summary by Ground News

The U.S. economy “downshifted slightly” in August as the renewed surge of the coronavirus hit dining, travel and tourism. The economy overall remained in the throes of a post-pandemic rush of rising prices, labor shortages and stilted hiring. The report describes a difficult landscape for the economy and the Fed heading into a fall season.

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News18 India

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Stocks to Watch Today, September 09, 2021: The US Fed's report also known as the Beige Book observed that US economy " downshifted slightly" in the summer.

3 years ago·India

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Reuters

U.S. economy "downshifted slightly" in August -Fed's Beige Book

By Howard Schneider and Ann Saphir WASHINGTON - The U.S. economy "downshifted slightly" in August as the renewed surge of the coronavirus hit dining, travel and tourism, the Federal Reserve reported Wednesday, but the economy overall remained in the throes of a post-pandemic rush of rising prices, labor shortages and stilted hiring. "The deceleration in economic activity was largely

3 years ago·United Kingdom

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KVIA

Fed survey finds growth 'downshifted' in summer due to COVID

By MARTIN CRUTSINGER AP Economics WriterWASHINGTON (AP) — U.S. economic activity “downshifted” in July and August due to rising concerns about COVID’s delta variant, as well as supply chain problems and labor shortages. That’s according to the Federal Reserve’s latest survey of business conditions around the nation. The Fed survey, released Wednesday, says that the slowdown in economic activity was largely attributable to a pullback in dining ou…

3 years ago·Panama City, United States

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IBTimes

US Growth 'Downshifted' Amid Labor, Supply Shortages: Fed

US economic growth "downshifted slightly" in July and August amid shortages of workers and materials, as well as concerns about the rise of the highly transmissible Delta variant of the virus that causes Covid-19, the Federal Reserve said Wednesday. And while those shortages also caused rising wages and prices in some areas, the report of a slower recovery could add weight to the argument that the central bank should hold off on plans to withdra…

3 years ago·United States

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The Straits Times

US growth 'downshifted' amid labour, supply shortages, says Fed

Shortages of workers and materials, as well as concerns about the rise of the coronavirus Delta variant played a part.. Read more at straitstimes.com.

3 years ago·Singapore

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Financial Post

U.S. economy 'downshifted slightly' in August -Fed's Beige Book

WASHINGTON -- The U.S. economy "downshifted slightly" in August as the renewed surge of the coronavirus hit dining, travel and tourism, the Federal Reserve reported Wednesday, but the economy overall remained in the throes of a post-pandemic rush of rising prices, labor shortages and stilted hiring. Read More

3 years ago·Canada

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