Economic activity in the U.S. has expanded at a modest to moderate pace since mid-January, according to the Federal Reserve's Beige Book.
The Beige Book, a compilation of anecdotal evidence on economic conditions in each of the twelve Fed districts, noted that many districts reported that the surge in Covid-19 cases temporarily disrupted business activity as firms faced heighted absenteeism.
The spike in Covid-19 cases was also blamed for a temporary weakening in demand in the hospitality sector in some districts, while severe winter weather was also cited as disrupting activity.
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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.