Beige Book: Nine Districts Report Expansion

Nine districts reported economic expansion since the previous Beige Book report, while Boston contacts were said to be "upbeat," and New York and Kansas City reported flat activity.

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Atlanta and San Francisco saw "moderate" growth, while Philadelphia, Cleveland, Richmond, Chicago, St. Louis, Minneapolis, and Dallas saw "modest" gains.

"Contacts' outlooks for future growth remained mostly positive in Boston, Philadelphia, Atlanta, Chicago, Kansas City, and Dallas," the report said.

Consumer spending grew at a pace that "ranged from slight to moderate in most Districts."

Auto sales were reported as "somewhat mixed," with activity sliding in some districts. Tourism was also termed mixed.

"Nonfinancial services generally grew at a modest or moderate pace, although reports from staffing services and transportation services were somewhat mixed," according to the report.

Manufacturing was weaker, with motor vehicles and aerospace excluded, as the dollar strengthening curbed demand.


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