The US economy grew “slightly” in early 2023

The United States Federal Reserve reported an improvement in the economy at the beginning of this year

The Beige Book of the US Federal Reserve (Fed), a document that provides a detailed assessment of the economy by the 12 US regional central banks, indicated that the country grew “slightly” at the beginning of the year.

“Economic activity rose slightly at the beginning of 2023“, says the document published this Wednesday by the Fed.

Consumption remained stable, although some districts registered moderate to strong increases in retail sales at a time that is not characterized by the vigor of this sector. In addition, the tourism sector has also been “quite robust” in most regions.

Regarding manufacturing activity, it stabilized after a period of contraction, while the disruptions in the supply chains have been resolved. Energy activity remained unchanged or fell slightly, and agricultural activity exhibited “mixed” signs. Subsequently, credit demand fell, concession standards tightened and “delinquency rose.”

Source: dpa

(Reference image source: file)

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