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lunes, 23 de septiembre de 2013

Beige Book: U.S. growth modest to moderate - Consumer spending, manufacturing rise in July, August : Report

 
WASHINGTON (MarketWatch)
The U.S. economy grew at a “modest to moderate” pace in July and August, the Federal Reserve reported Wednesday, sticking with language that the central bank has used for much of the year
The Fed’s so-called Beige Book, a collection of anecdotes on the economy, found modest expansion in the manufacturing sector; rising consumer spending in most Fed districts; a slight increase in services activity; and moderate residential real estate sales
The latest Beige Book comes two weeks before the Fed’s next policy meeting, at which many economists expect the central bank to start to scale back its asset purchases
At their last meeting, Fed officials agreed that the economy will improve later this year, allowing the central bank to begin tapering bond buying before the end of the year
But they didn’t signal exactly when they’d start to slow purchases
The Fed has pledged to keep buying Treasury bonds and mortgage-backed securities until there is a substantial improvement in the U.S. economy and the labor market
Its aim has been to stimulate the economy by keeping long-term borrowing costs low for consumers and businesses
Previously Fed officials showed concern that rising mortgage rates would be a drag on economic growth in the near term
Yet the Beige Book shows that real estate sales have continued despite higher rates
“Residential real estate activity increased moderately in most districts, and demand for nonresidential real estate gained overall,”
The Federal Reserve is seen as intent on making a first, small, reduction in the pace of tis asset purchase plan in September, according to experts at the central bank’s conference in Jackson Hole
The report is one of the remaining pieces of the economic puzzle that will inform the Fed’s upcoming policy meeting on Sept. 17-18
San Francisco Fed President John Williams said reducing securities purchases later this year and ending them in mid-2014 remains “the best course forward,” assuming economic forecasts stick
The Fed said that for most occupations and industries, hiring “held steady or increased modestly” compared with the last period covered by the Beige Book
“Upward price pressures remained subdued, and prices increased slightly during the reporting period,” the Fed said
“Wages continued to be modest overall.”
This Beige Book was written by the San Francisco Fed
The 12 Fed districts take turns writing the report

3 comentarios:

geniopolis.net dijo...

Fuerte Subida de la Productividad en USA.
Igual que en La Eurozona, que no harta de despedir a todo el mundo, son incapaces de bajar el Paro

geniopolis.net dijo...

Fuerte Deflación Salarial en USA a nivel Trimestral, Lógico y Normal,Contratan a mucha gente y deben bajar Salarios.En Eurozona NO CONTRATAN

geniopolis.net dijo...

G20 : Lista de 28 grandes bancos y nueve aseguradoras que no pueden declararse en bancarrota, serie de exigencias a sus accionistas