BlockBeats News, July 16th, the Federal Reserve Beige Book showed that during the period from the end of May to the end of June, economic activity in 11 of the 12 Fed districts saw slight to moderate growth, with overall growth similar to the previous period.

The report stated that factors such as high oil prices restrained some consumption, leading consumers to reduce spending on non-essential items and shift to lower-priced goods. The tourism industry saw some recovery, with a boost in some regions due to World Cup-related traffic. Manufacturing maintained moderate growth, with increases in orders for data centers, machinery, and defense. Construction and real estate activities saw slight improvement, with data center construction standing out. In addition, there was an increase in energy industry drilling activity, overall stable financial conditions, and a moderate increase in commercial and consumer loan volumes.

However, agriculture was impacted by falling commodity prices, rising costs, and credit tightening. Most respondents expect the economy to continue expanding in the coming months, but there remains significant uncertainty regarding future fuel costs.