WASHINGTON — Some Federal Reserve districts reported that moderate economic growth was tempered by “widespread signs of a deceleration” from mid-July through the end of August in the latest installment of the Fed’s “beige book” of economic activity
The results of the survey by the 12 regional Fed banks were released Wednesday. Five districts reported modest economic growth and two reported “positive developments.” The remaining five reported “mixed conditions or a deceleration in economic activity.” Eight Fed banks reported economic expansion in the previous edition of the beige book, released July 28.
The report was prepared by the San Francisco Fed and includes information collected on or before Aug. 30. Home sales have declined amid the “sustained lull” after the homebuyer tax credit expired, most districts reported.