The Federal Reserve’s Beige Book, released today, pointed to modest growth in most Federal Reserve Districts, although some reported mixed or weakening activity.
Five of the 12 districts - St. Louis, Minneapolis, Kansas City, Dallas and San Francisco - reported “a modest or slight” expansion. The other seven districts reported either sluggish growth, a mixed picture or slower overall activity.
The report also noted that “Several districts also indicated that recent stock market volatility and increased economic uncertainty had led many contacts to downgrade or become more cautious about their near-term outlooks."
See the full Beige Book report.