美联储发布“褐皮书”：美国总体消费支出进一步下滑

Core Insights - The Federal Reserve's Beige Book indicates that economic activity has not changed significantly since the last report, with most districts reporting stable conditions, while two districts noted slight declines and one district reported slight growth [1] - High-end retail spending remains resilient, but overall consumer spending in the U.S. has declined further [1] - Retailers have pointed out that the government shutdown has negatively impacted consumer purchasing power [1] - There is widespread upward pressure on costs in the manufacturing and retail sectors, attributed to tariff-induced cost increases [1] - Most businesses connected to the Federal Reserve districts expect cost pressures to persist in the future [1]