Fed Beige Book: Majority of districts said firms expressed positive near-term outlook

According to the Federal Reserve’s Beige Book about the state of the economy, based on information collected before May 10th (2017), most Fed districts reported their economies continued to expand at a modest or moderate pace from early April through late May.

Key headlines (via Reuters):

• Consumer spending softened; majority of districts reported moderate growth in manufacturing and in most nonfinancial service sectors
• Majority of districts said firms expressed positive near-term outlook
• Most districts cited worker shortages across a broadening range of occupations and regions
• Most districts reported employment and wages continued to grow at a modest to moderate pace
• Pricing pressures were little changed on balance, with most districts reporting modest increases