Online reports that the Federal Reserve's Beige Book showed that economic activity has increased "slightly" since mid-January, but consumer spending has declined. "Consumer spending fell overall, with reports of strong demand for essentials but increased price sensitivity to discretionary items, especially among low-income shoppers," the report said. At the same time, prices have "risen moderately", with prices rising faster in some areas than in the previous period. The Federal Reserve said "abnormal weather conditions" in some areas have weakened demand in the leisure and hotel industries.