US economy got a strong start in 2023, Fed’s Beige Book says

By Catarina Saraiva

08 Mar 2023 · 2 min read

While the U.S. economy started the year encouragingly, the outlook appears less promising, Bloomberg reports. Economic data to be published in the days ahead will give policymakers a clearer picture.

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The U.S. economy proved resilient to start the new year, marked by steady consumer spending and stabilizing manufacturing activity, contacts surveyed in the Federal Reserve's latest Beige Book said.

"Overall economic activity increased slightly in early 2023," the Fed said Wednesday in the report, published two weeks before each meeting of the policy-setting Federal Open Market Committee.

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