Some construction activity has begun to slow in various regions around the country as commodity pricing, building permit applications and even calls for construction workers eased, according to the latest Beige Book reading, the Federal Reserve’s informal measure of economic activity. The report comes as contractors have started to note cooling material prices, and after four of the 11 subcategories for construction inputs in the Producer Price Index eased last month. The Fed has been trying to pull off a “soft landing” of the economy by tightening monetary policy without plunging it into recession.
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