Comments from the Beige Book, covering January and up to February 22:
- Consumer spending expanded in most of the 12 districts
- Car sales strong or solid
- Residential real estate strengthened in all districts
- Demand for services generally positive
- Manufacturing improved modestly in most districts
- Overall loan demand stable or slightly higher in nearly all districts
- Price pressures modest
- Majority of districts reported modest improvements in labor market
- Full text
A non-event, as far as the market is concerned.
Five Districts reported that economic growth was moderate in January and early February, and five Districts reported that activity expanded at a modest pace. The Boston District said the economy continued to expand slowly, and the Chicago District reported that economic activity grew at a slow pace.
