Fed's Beige Book: US Economy Shows Stability with Minimal Changes

Economic activity in the Federal Reserve Districts remained stable or showed slight declines. Consumer spending was mixed, with differences in prices and product offerings. Labor markets continued to improve, with slight increases in overall employment and easing labor market tightness. Prices increased at a modest pace, with input cost increases slowing for manufacturers but rising for service sector firms. Retail sales grew modestly, while tourism activity varied across Districts. Overall, the outlook for economic growth was subdued, with expectations of slight growth in the coming months.