Federal Reserve's' Beige Book ': The outlook for the US economy faces greater uncertainty

New York, September 2 (Xinhua) -- The national economic situation survey report released by the Federal Reserve on the 2nd showed that from early July to August 24, the overall economic activity in the United States maintained mild to moderate growth, but factors such as rising energy prices, policy changes, and international conflicts brought greater uncertainty.

According to the Federal Reserve Act of the United States, the country is divided into 12 Federal Reserve districts, with one Federal Reserve Bank established in each district. This report is compiled based on the latest survey results of 12 Federal Reserve banks and is also known as the 'brown book'.

The report states that out of the 12 Federal Reserve districts, 10 experienced mild to moderate growth in economic activity, while 2 remained unchanged. Consumer spending has slightly increased, but consumers are more sensitive to prices. Affected by factors such as lack of consumer confidence, high oil prices, and rising financing costs, car sales are sluggish. Although agriculture has slightly improved, overall it is still relatively weak.

The report points out that uncertainty remains high due to factors such as rising energy prices, policy changes, and international conflicts.

The report states that prices have risen in all 12 Federal Reserve districts. The input cost pressure of manufacturing and construction industries in multiple regions remains high, with prices of raw materials such as energy, transportation, metals, and petrochemicals generally rising. Retail and manufacturing enterprises continue to reflect the cost pressure brought by tariffs.

The Federal Reserve releases the "Beige Book" eight times a year to understand the economic situation in the United States through the Federal Reserve Bank, which is an important reference for monetary policy meetings. The next monetary policy meeting of the Federal Reserve will be held on September 15-16.