U.S. economy stalled in May, Fed survey finds [View all]

Source: Marketwatch

The U.S. economy slowed to a crawl in May, with consumers pulling back on spending and businesses delaying hiring, according to the Federal Reserve‘s Beige Book survey released Wednesday.

According to the report, nine of the 12 Fed districts reported contraction in economic activity or no change in growth. The remaining districts saw slight growth.
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In the real-estate sector, home sales were reported as little changed, and most districts reported that home construction was flat or slowing.
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“On balance, the outlook remains slightly pessimistic and uncertain,” the survey said.


Read more: https://www.marketwatch.com/story/u-s-economy-stalled-in-may-fed-survey-finds-94f58d39