U.S. economic activity slowed in August, with nine of the Federal Reserve’s 12 districts reporting flat or declining performance, according to the Fed’s latest Beige Book report. The Wednesday report, based on anecdotal information from local businesses and contacts, highlights weakening consumer spending, flat employment growth and continued caution from businesses regarding hiring and expansion, despite some easing of inflationary pressures and wage growth. Elevated interest rates and economic uncertainty continue to weigh further on sectors like manufacturing and real estate. Key Insights F…
