Economy
March 5, 2020
Fed Beige Book Reports First Impacts of Coronavirus
Written by Sandy Williams
The coronavirus has begun to affect business in the United States, according to the latest Federal Reserve “Beige Book.” The economy is moving forward at a modest to moderate pace, but growth is uneven. The virus appears to be negatively impacting travel and tourism in the U.S., which showed only moderate to flat growth in February.
Manufacturing expanded across most districts in the U.S., but supply chain disruptions were noted as a result of the coronavirus. More disruption is expected as the virus spreads. Transportation was flat to slightly higher, while Mid-Atlantic ports saw strong volume growth.
