Economic growth slowing in some US regions: Fed Beige Book

ANKARA

Economic growth is slowing in some US regions, according to the Federal Reserve's Beige Book released Wednesday.

"Eight Districts reported that expectations of future growth among their contacts had diminished," said the Beige Book, which shows economic conditions across the 12 Federal Reserve Districts. "Contacts in three Districts specifically expressed concerns about a recession."

"Four Districts explicitly noted that the pace of growth had slowed since the prior period," it added.

The Districts cited labor market difficulties as their biggest challenge, followed by supply chain disruptions.

In addition, rising interest rates, high inflation, Russia's war on Ukraine and disruptions from the coronavirus pandemic were key concerns regarding household and business plans, it said.