- Half of the Districts reported slight to moderate declines in activity, three Districts reported no change, and three Districts reported slight growth.
- All Districts reported elevated levels of economic and policy uncertainty
- Consumer spending reports were mixed
- Residential real estate sales were little changed
- Employment steady, hiring cautious due to uncertainty
- Tariffs driving moderate price hikes; costs increasingly passed to consumers
- Manufacturing softens slightly due to tariffs, cautious investment.
These two quotes capture it well:
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“All Districts reported elevated levels of economic and policy uncertainty, leading to a cautious approach.”
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“Tariff uncertainty continues to complicate business planning, with firms hesitant to commit capital or increase hiring.”
This article was written by Adam Button at www.forexlive.com.