Continued economic improvement, viewed by some districts as “moderate,” but mostly “widespread,” was reported in the Federal Reserve’s Beige Book, which was released Wednesday.
The Kansas City Fed called its economic gains “solid.” Manufacturing was at the forefront, with nearly every district reporting steady improvement, often resulting in increased hiring.
Consumer spending was “robust” in New York, while Boston termed the retail sector “mixed,” and Richmond said it was “weak.”
“Loan demand was either unchanged or up slightly in most districts, with New York, St. Louis, and Kansas City citing weaker lending,” the Beige Book said. “While most districts noted little change in their residential real estate markets, half of the districts cited at least pockets of weakening.”