The FRS estimated the growth rate of the economy in the regions

The American Central Bank published the Beige Book. It provides an assessment of the state of the economy in various regions of the country. The review notes that different regions of the United States showed modest to moderate growth rates at the beginning of this year. Almost all survey participants stated two main problems. The spread of the omicron has reduced economic activity due to many people forced to stay at home. Severe weather conditions also had a negative impact on activity. For the same reasons, there was a decrease in consumer spending. The manufacturing sector in all regions of the US showed a moderate pace of growth against the backdrop of continued problems related to the supply. Representatives of American banks reported some deterioration in financial conditions. However, loans are still in demand. The overall mood in the regions of the United States regarding the outlook for the next six months remains optimistic. However, survey participants noted the persistence of uncertainty.

Source: xCritical.com