Fed Beige Book finds pace of growth in U.S. economy marginally changed

The US Federal Reserve's Beige Book that contains an assessment of economic conditions from the 12 Federal Reserve districts reveals the pace of economic growth across the country has changed marginally in November from the previous report.

Eight districts are identified as growing at modest pace, one is found at moderate, one at steady rate, and remaining are mixed or decelerating. Labor markets are found to be tightening modestly across the country.

"As a tentative sign of increasing labor market scarcity, this anecdote is, at the margin, positive for the outlook for wage growth. On balance, the December Beige Book provides little new information on economic activity and is unlikely to be impactful for policy", says Barclays.