Fed Economic Report U.S. Economic Recovery Variations in Industry and Region September 3 at 7:03 AM
According to the latest economic report compiled by the Federal Reserve, the central bank of the United States, while orders increase in the manufacturing industry as economic activity resumes, there are variations in recovery by industry and region, such as severe conditions in restaurants and hotels.
The Fed today released its latest economic report, called the Beige Book, compiled by 12 U.S. federal reserves.
As a result, the U.S. economy is “up most of the world, but the pace of recovery remains moderate, well below the spread of the new coronavirus.”
On top of that, he pointed out that while new orders are increasing in the manufacturing industry, such as the Midwest, the service industry, such as restaurants and hotels, remains severe and employment is unlikely to increase.
In Addition, in California and other countries, demand for single-family homes in the suburbs has increased due to the penetration of telecom shifts, while in Manhattan, New York, the rate of vacant housing in rental housing has risen and rents have declined by 10% compared to a year ago, and the economic recovery is expected to vary in industries and regions.
In the presidential election, which is now two months, voters’ sense of economic activity is also one of the main focal points.