TechFlow, November 27 — According to Jinshi Data, the Federal Reserve's Beige Book shows that U.S. economic activity remained largely unchanged in recent weeks, with overall consumer spending further declining except among high-end consumers. The report notes that the U.S. labor market weakened slightly and price levels continued to rise moderately. The Fed stated in the report: "Overall economic outlook remains stable, with some businesses warning of risks of economic slowdown in the coming months, while the manufacturing sector expresses cautious optimism." Due to the longest government shutdown in U.S. history, which lasted until November 12 and disrupted the collection of key economic data, on-the-ground surveys reflecting actual business and consumer conditions have drawn significant attention in recent months. Federal Reserve officials will not have access to complete labor market and inflation data for October and November ahead of their December policy meeting.
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