Odaily News The Federal Reserve Beige Book showed that economic activity has grown "slightly" since mid-January, but consumer spending has declined. The report said, "Consumer spending has declined overall, with reports of strong demand for necessities, but increased price sensitivity for discretionary items, especially among low-income shoppers." At the same time, prices have "increased moderately", and prices in some areas have risen faster than in the previous period. (Jinshi)