美联储褐皮书：在美联储的十二个辖区中，有八个辖区的整体经济活动呈现小幅至温和增长；三个辖区报告无变化，一个辖区报告小幅下降。相较于前三个报告周期（当时多数辖区报告基本无变化），本次情况有所改善。在本周期内，大多数银行反映消费者支出实现小幅至温和增长，这主要归功于假日购物季。数个辖区还指出，高收入群体的支出更为强劲，主要体现在奢侈品、旅行、旅游以及体验式活动方面的支出有所增加

Core Insights - The Federal Reserve's Beige Book indicates that eight out of twelve districts experienced slight to moderate economic growth, with three districts reporting no change and one district showing a slight decline [1] Economic Activity - Overall economic activity has improved compared to the previous three reporting periods, where most districts reported little to no change [1] - Most banks reported slight to moderate growth in consumer spending, attributed mainly to the holiday shopping season [1] Consumer Spending - Several districts noted stronger spending among high-income groups, particularly in luxury goods, travel, tourism, and experiential activities [1]