The Federal Reserve released its Beige Book, a compilation of anecdotal evidence on economic conditions in each of the twelve Fed districts, on Wednesday.
The Beige Book said contacts from most Fed districts indicated economic growth was modest during July and August.
While consumer spending on tourism was stronger than expected, the report said other retail spending continued to slow, especially on non-essential items.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.