Fed's Beige Book: "Economic activity contracted sharply and abruptly"

Fed's Beige Book "This report was prepared at the Federal Reserve Bank of Boston based on information collected on or before April 6, 2020." Economic activity contracted sharply and abruptly across all regions in the United States as a result of the COVID-19 pandemic . The hardest-hit industries-because of social distancing measures and mandated closures-were leisure and hospitality, and retail aside from essential goods. Most Districts reported declines in manufacturing, but cited significant variation across industries. Producers of food and medical products reported strong demand but faced ......(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/2XDUj0j
via IFTTT