The most recent Beige Book was released July 16 and US economic data has largely been better since then, something that will probably be reflected in today’s 2 pm ET (1600 GMT) release.

Look for more districts to report “moderate” growth and fewer saying growth was “modest”

Here are the headlines from the previous Beige Book.

  • Most districts were optimistic about economic outlook
  • Labor market conditions improved
  • Consumer spending increased in all 12 districts
  • Manufacturing increased in all 12 districts
  • ‘Banking conditions improved slightly’
  • Vehicle sales expanded in most districts
  • ‘Price pressures were generally contained’
  • Most districts were optimistic about economic outlook
  • Full text here