Consumer loan delinquency is rising in some regions
(New York = Yonhap Infomax) Reporter Jeong Seon-young = The US Federal Reserve (Fed · Fed) saw employment increase in most regions in the recent economic assessment, but the rate of increase was slower than from’ the front, and the speed of inflation also slowed down.
An increase in consumer loan delinquencies was also noted in some regions.
In the Beige Book, an economic assessment report released on the 31st (local time), the US Fed found that economic activity was largely unchanged in April and early May overall.
“Economic activity increased slightly in four regions, was unchanged in six regions, and decreased moderately in two regions,” the Fed said.
In addition, the majority expected further expansion, but expectations for future economic growth have declined somewhat.
Consumer spending saw steady or higher growth in most regions.
Commercial construction and real estate activity fell overall, while the office sector remained weak.
As for monetary conditions, the Fed said it was “stable or slightly tightened in most regions”.
“Consumer loan delinquency is on the rise” in many regions, “closer to pre-pandemic levels,” he said.
Employment growth has slowed slightly.
“Employment has increased in most regions, but at a slower pace than previously reported,” the Fed said.
However, the construction, transport and finance sectors stressed that some of the job market had cooled, making it easier to find workers.
Wages rose moderately, similar to the last report.
In many regions, prices have risen moderately, but the pace of inflation has slowed.
The Fed said it expected most regions to see inflation rise at similar rates over the next few months.
Although consumer prices continued to rise on strong demand and rising costs, several regions assessed that consumers were more price sensitive than in previous reports.
This article was submitted at 03:29, 2 hours earlier on the Infomax financial information terminal.
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