Forex
Data Centers Fuel Modest US Economic Growth
The US economy has seen modest growth since July, according to the Federal Reserve's latest 'Beige Book' report. The central bank notes that demand linked to data centers has been a key driver of this recent expansion.
In 10 out of 12 regions, activity increased, while in two areas, it remained stable with no significant changes. Household consumption showed a slight improvement, but spending on high-end products became more sensitive to price variations despite remaining robust.
The report also highlights that industrial activity rebounded in most districts, largely driven by orders linked to defense and data centers. However, vehicle sales were hindered by rising fuel costs, decreased consumer confidence, and higher refinancing costs.