Mumbai, March 6 -- The Federal Reserve's Beige book noted that overall economic activity rose slightly since mid-January. Six Districts reported no change, four reported modest or moderate growth, and two noted slight contractions. Consumer spending was lower on balance, with reports of solid demand for essential goods mixed with increased price sensitivity for discretionary items, particularly among lower-income shoppers. Employment nudged slightly higher on balance, with four Districts reporting a slight increase, seven reporting no change, and one reporting a slight decline.
However, prices increased moderately in most Districts, but several Districts reported an uptick in the pace of increase relative to the previous reporting period. ...