Federal Reserve's Beige Book: Economic Activity Largely Unchanged, Consumer Spending Mixed Amid Higher Rates

Economic activity showed little change across most Federal Reserve districts since early September, according to the latest Beige Book report.

Consumer spending was mixed, particularly for general retailers and auto dealers, due to price and product differences.

Loan demand declined slightly to modestly, likely due to higher interest rates.

Manufacturing activity was mixed, although some businesses saw an improving outlook.

Labor conditions continued easing nationwide as candidate pools expanded and those with job offers were less likely to negotiate terms.