China News Agency, New York, June 1 (Reporter Wang Fan) The National Economic Situation Survey Report released by the Federal Reserve Board on the 1st shows that the economic activities in the United States continued to expand from April to mid-May, but the economy in some regions continued to expand. Growth has slowed, and business contacts in some regions have expressed concern about a recession.

　　The report, known as the Fed's Beige Book, shows that economic activity in most of the Fed's 12 jurisdictions increased slightly or moderately, with moderate growth in the remaining jurisdictions; the economies of four jurisdictions in New York, Philadelphia, Cleveland and Dallas. The growth rate has slowed significantly compared to the previous reporting cycle.

　　Contacts in most of the Fed's jurisdictions said manufacturing continued to grow, retail activity weakened due to rising prices, and residential sales fell due to rising home prices and lending rates, the report said.

Labor shortages and supply chain disruptions are considered the biggest challenges to economic growth. Rising interest rates, high inflation, the situation in Russia and Ukraine, and the new crown epidemic are also considered key factors affecting the economy.

　　Contacts in most jurisdictions cited strong price increases, especially for inputs, but some jurisdictions noted that the pace of price increases was starting to slow, the report said.

In a tight labor market, most jurisdictions reported a modest or modest increase in employment, but one jurisdiction reported a significant drop in job applicants across several local businesses.

In response to labor shortages, many companies continue to automate deployments in addition to higher wages and greater job flexibility.

　　During the reporting period, liaisons in 8 of the Fed's jurisdictions expressed lower expectations for future economic growth, and liaisons in 3 jurisdictions specifically expressed concerns about a recession.

　　The Federal Reserve releases the Beige Book 8 times a year, and uses the Federal Reserve Banks in 12 jurisdictions to conduct a thorough survey of the economic situation in the United States.

The Beige Book was compiled by the Federal Reserve Bank of Philadelphia, and the deadline for data collection is May 23 this year.

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