WASHINGTON – Price increases were reported to be widespread across the economy in November, the Federal Reserve said Wednesday.
In a survey of business conditions around the country, the Fed's 12 regional banks found the economy continued to grow at a modest-to-moderate pace, and the outlook for future growth remains positive. But some of the Fed's business contacts expressed uncertainty about when the problems presented by supply-chain bottlenecks and labor shortages might begin to ease.
The Fed survey will form the basis for discussions when central-bank officials conduct their final meeting of the year on Dec. 14 and 15.
Manufacturing activity grows in November
U.S. manufacturing activity grew at a faster pace in November, with producers trying to keep up with demand amid ongoing supply shortages and delays.
The Institute for Supply Management, a trade group of purchasing managers, said Wednesday its index of manufacturing activity rose to a reading of 61.1 in November, just above September's 60.8.
Any reading above 50 indicates growth in the manufacturing sector. The manufacturing sector has recorded 18 straight months of growth going back to spring 2020, when the pandemic began.
Disney, Comcast make distribution deal
Walt Disney Co. and Comcast Corp. have reached a new multiyear distribution agreement that will keep Disney's TV channels, including ESPN, available to Comcast's Xfinity TV cable customers. As part of the deal, Comcast agreed to begin distributing ESPN's ACC Network to its Xfinity subscribers.
The renewal provides continued carriage of ESPN's popular SEC Network as well as uninterrupted service of Disney's suite of entertainment channels, including FX, Freeform, National Geographic and Disney Channel. The agreement also extends an arrangement in which Comcast offers its customers easy access to streaming services Disney+ and ESPN+.