Labour Market Flexibility In The United States Denies Consumer Spending Slightly Higher

In the latest Beige Book of anecdotal evidence on the U.S. economy published Wednesday, July 27, 2011 underscored the Federal Reserve, flexible labor markets and the weakness of real estate offset a slight increase in consumption, and an encouraging start for the tourist season.

The Beige Book, which is based on information collected on or before July 15, said growth has slowed in most neighborhoods, especially near the Atlantic coast, with the Minneapolis district affected by the closure of State government now closed. NRI Share Trading Account.

Consumer spending rose, helped by the “modest” growth of non-car sales at retail, the report says may have been the result of gasoline prices down. Car sales have declined, however, remains limited action due to the supply chain of Japanese riots.

Residential remained weak, but the construction and rental business has continued to improve. Loan volumes have been relatively flat – but confused by region and sector – and the credit quality has remained stable or improved.

A modest increase in hiring is seen, but the conditions of the labor market remains “soft”, with the pressure of wages for all but silenced some professions in some districts.


Comments are closed.