- Covers period before July 9
- US economy grow at modest-to-moderate pace in period, previous was ‘moderate’
- Some districts say cautious on hiring due to fiscal cliff and/or weak demand
- Manufacturing grew in most districts, but at a more modest pace than earlier in year
- Employment grew at tepid pace in most regions
- Retail sales increased slightly except Boston, Cleveland and NY where they were flat or softened
- Full Beige Book
The Atlanta, St. Louis, and San Francisco Districts reported modest growth, while Boston, Chicago, Minneapolis, Kansas City, and Dallas described economic activity as advancing moderately. The New York, Philadelphia, and Cleveland Districts noted that activity continued to expand, but at a slower pace since the last report, while Richmond cited mixed activity.
In the June 6 report, by comparison, 7 regions said growth was moderate (compared to 5 now). Just 1 said growth slowed (compared to 3 now).
