The 12 Federal Reserve Districts reported some stabilization or modest improvement in many sectors, with residential real estate and manufacturing showing improvement, according to the Federal Reserve Board’s Beige Book, released yesterday.
The improvement in residential real estate and manufacturing began during the summer, the Fed said. Consumer spending and nonfinancial services reports were mixed, while commercial real estate seemed to be one of the weakest sectors.
“Reports of gains in economic activity generally outnumber declines, but virtually every reference to improvement was qualified as either small or scattered,” the Fed reported.
