U.S. overall economic activity rose slightly, with many regions experiencing modest to moderate growth in manufacturing while consumer spending dropped in general, the U.S. Federal Reserve said in its Beige Book released on Wednesday.
The Beige Book, a survey on economic conditions based on information collected from its 12 regional reserve banks, is published eight times per year.
The report reveals a slight uptick in overall economic activity since mid-January, with most regions experiencing modest to moderate growth in manufacturing.
However, consumer spending has generally decreased, automotive sales have seen a slight decline, and agricultural conditions have worsened.
Additionally, insiders across industries such as petrochemicals, office equipment, and real estate expressed concerns over the impact of trade policy changes, noting that tariffs will clearly drive up costs for these sectors.
US economic activity shows mild growth: Fed Beige Book
Rescue teams continued digging through the rubble of collapsed buildings and searching for survivors in the worst-hit state of La Guaira as the survival window has desperately faded three days after the devastating twin earthquakes struck Venezuela.
The two powerful quakes, with magnitudes of 7.2 and 7.5, hit central Venezuela less than a minute apart on Wednesday, according to the U.S. Geological Survey (USGS).
Venezuelan National Assembly President Jorge Rodriguez said Sunday that the death toll from the quakes had risen to 1,450.
Among the victims are eight Chinese nationals who were confirmed killed in the earthquakes as of 17:00 local time (2100 GMT) Saturday, according to the Chinese Embassy in Venezuela.
Although the 72-hour golden window for finding survivors has passed, rescuers have been working around the clock, clinging to fading hope.
At a collapsed building in La Guaira, relatives and friends of the missing dug alongside emergency teams, desperate for any sign of their loved ones.
"The earthquake was too destructive. You can see that building, and my daughter is still in there. I have not seen her for three days. I hope she is still safe. Help came, but just too late," said Jimmy Ramirez, a local survivor.
Survivors said a birthday party was being held in the building when the quake struck.
"I saw a friend post that he needed help, so I decided to come and support him. There is hardly any chance of survival for his family, though. Despite that, we are still here, looking for his sister, her husband, and her daughter," said Carlos Ramirez, a volunteer.
The Venezuelan government has repeatedly stressed that search for survivors remains the absolute priority.
"It is catastrophic. It is very serious. It is staggering. We stand in solidarity with the Venezuelan people, and we are here to help in whatever way we can," said Flavia Trindade, a rescuer from Brazil.
La Guaira, the center of the devastation, has been placed under lockdown, with military forces deployed to support rescue operations and keep emergency routes clear.
Venezuelans dig for earthquake survivors as death toll rises to 1,450
