Economy Still Far Below Levels Prior to the Covid-19 Pandemic

by Mike ‘Mish’ Shedlock
The Street

The Fed’s Beige Book tells us what we already know. The rebound has been weak and choppy.

The Beige Book is a Federal Reserve System publication about current economic conditions across the 12 Federal Reserve Districts.

National Highlights

Economic activity increased among most Districts, but gains were generally modest and activity remained well below levels prior to the COVID-19 pandemic.

Consumer spending continued to pick up, sparked by strong vehicle sales and some improvements in tourism and retail sectors. But many Districts noted a slowing pace of growth in these areas, and total spending was still far below pre-pandemic levels.

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