Investing.com -- Economic activity was little changed since early September as some consumers growing more sensitive to price pressures even as teh labor market continued to show strength, according to the Federal Reserve's Beige Book released Wednesday.
The unchanged outlook on the economy comes amid a string of stronger economic data released recently including the stronger September jobs report and retail sales. Consumer spending was mixed, according to the report, with"some Districts noting shifts in the composition of purchases, mostly toward less expensive alternatives."
Many districts reported low worker turnover, and layoffs reportedly remained limited, underpinning an ongoing modest to moderate pace of wage increases.
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