According to the most recent Beige Book report, the twelve Federal Reserve districts indicated that economic activity has expanded since the previous Beige Book report; however, none of the districts pointed to a distinct shift in the overall pace of growth.

The following was excerpted from the report:

Overall, loan demand rose in eight districts and held steady in one. Credit standards were largely unchanged. Six districts reported improving credit quality, falling delinquency rates, or both.

District reports on manufacturing were mixed — divided almost evenly into one of three characterizations of the sector’s activity: expanding, contracting, or unchanged. Among districts reporting on their firms’ near-term expectations, the manufacturing outlook remained generally
upbeat, with New York, Philadelphia, Richmond, and Atlanta reporting increased optimism.

General consumer spending grew in most districts at rates ranging from slight to moderate, with few changes in the pace of growth compared with the last Beige Book.

To view the full Federal Reserve Beige Book report, click here.