Courtesy of Mish.
The Fed’s Beige Book is a summation of useless anecdotal information compiled by Fed governors from each of the Fed’s 12 regions, eight times a year.
The report is 36 pages long so inquiring minds may be seeking a short version.
Rates of Expansion
- Moderate Expansion: San Francisco, Cleveland, New York
- Moderately Expanding: Dallas
- Modest Expansion: Philadelphia, Chicago, St. Louis
- Modestly Expanding: Richmond, Kansas City, Minneapolis, Atlanta
- Modestly to Moderate Expansion: Boston
Those keeping closer score will note that Chicago “growth slowed to a modest pace”. Emphasis mine.
St. Louis “economic activity improved at a modest pace”.
In Kansas City, “manufacturing and other business services expanded at a moderate pace, and energy activity continued to increase modestly”.
Boston business reports indicate that “revenues at most manufacturing and retail firms continued to expand modestly to moderately”.
I will spare you the drivel about other regions.
