Reports of loan demand across the Federal Reserve’s 12 districts were “mixed,” although some reported an ongoing recovery in the office real estate market, according to the latest Beige Book released Wednesday.
The Fed’s semi-monthly summary of commentary on current economic conditions reported by each of its reserve bank districts (for the period ending Nov. 17) also reported mixed reports on residential construction, with some reporting declines while others saying it was unchanged. Home sales, the report noted, varied by district.
“Overall consumer spending declined further, while higher-end retail spending remained resilient,” the report states.
The report notes that economic activity was little changed from the most recent report of Oct. 15, and that outlooks were largely unchanged overall.
“Some contacts noted an increased risk of slower activity in coming months, while some optimism was noted among manufacturers,” according to the report.
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