Highlights of the Beige Book

  • Economic activity expanded across all 12 districts in June with pace ranging from slight to moderate
  • Most districts expect modest to moderate economic gains
  • Inflation described as modest in most districts. A few said price pressures eased slightly
  • Consumer spending 'appears to be rising' in most districts. Half reported declines in auto sales
  • Data collected through June 30

This is mostly good news. It's getting easer and easier to believe that some kind of US growth and inflation pickup is truly coming.