Golden Finance reported that the Federal Reserve’s latest Beige Book survey showed that U.S. economic activity increased slightly in November after being basically flat in previous months, and businesses were more optimistic about the demand outlook. According to a research report released on Wednesday, "Economic activity has increased slightly overall, with growth expectations rising modestly in most regions. Business contacts are optimistic that demand will increase in the coming months. Consumer spending overall remains stable." Recent Beige Book reports paint a bleaker picture of the economy than official statistics, with growth close to zero, hiring falling and prices rising only slightly. In many cases, this contradicts headline economic data, which shows that economic activity remains strong. The latest Beige Book shows that inflation is rising only moderately, and as consumers' price sensitivity increases, it becomes more difficult for companies to pass on rising costs. Hiring activity remains subdued, employee turnover is low and layoffs are limited. Business sources said they expected steady to moderate employment growth. "Wage growth has slowed modestly in most jurisdictions, as have expectations for wage growth in the coming months". The Kansas City Fed compiled the Beige Book based on information collected on or before November 22.