“Slight to moderate declines” in economic activity were reported to Federal Reserve districts as outlined in the Beige Book released Wednesday by the agency.
“On balance, the outlook remains slightly pessimistic and uncertain, unchanged relative to the previous report,” the report stated.
The Beige Book is published eight times per year. Information it contains is based on anecdotal information collected by each of the Fed’s 12 district banks on current economic conditions in its district through reports from bank officials and interviews with key business contacts, economists, market experts, and other sources.
The lates report covers the period since late April when the previous report was published.
The report notes that bank loan demand and capital spending plans were mixed. In other areas, the book notes that consumer spending reports were mixed, with most districts reporting slight declines or no change.
“However, some Districts reported increases in spending on items expected to be affected by tariffs,” the report states.
Residential real estate sales were little changed, the book states, with most district reports on new home construction indicating flat or slowing construction activity.
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