Manufacturing & The Economy
All twelve Federal Reserve Districts report that economic activity expanded during the current reporting period, the Fed’s monthly Beige Book reported Wednesday. Labor market conditions generally strengthened in the latest reporting period, with hiring activity steady to stronger across most of the country, and several Districts reporting shortages of skilled workers.
Manufacturing activity expanded in all twelve Districts since the previous report, with a pickup in the pace of growth reported in several Districts. Activity expanded robustly in the Boston, New York, Atlanta, and Kansas City Districts, while a more modest pace of growth was reported by Chicago, St. Louis, Philadelphia, Cleveland, Dallas, and Minneapolis. Activity expanded more slowly in the Richmond and San Francisco Districts.