In the transport and tourism sectors, the growth of indicators is above average, the ministry said.
The US economy in the period from the end of May to the beginning of July continued further recovery from the effects of the pandemic, showing moderate to strong growth in various industries. This is stated in the Beige Book of the US Federal Reserve System (FRS), which performs the functions of the central bank, published on Wednesday. The document is devoted to the assessment of the state and prospects of economic development in various regions of the country.
“The US economy continued to strengthen from the end of May to the beginning of July, showing moderate to steady growth. Among the industries reporting above-average growth are transport, tourism, manufacturing and non-financial services. Energy markets have slightly improved [indicators], the results in the agricultural sector are mixed,” the Fed notes.
“Supply-side disruptions have become more common, this includes shortages of materials and labor, delays in deliveries and low stocks of many consumer goods,” the document says.