Fed upgrades growth assesment to ‘moderate’ in Beige book

Author: Adam Button | Category: News

Full text of the April Beige Book.

The anecdotal report says “overall economic activity expanded at a moderate pace” compared to a “modest to moderate pace” in the previous report.

  • 5 regions saw ‘modest’ growth, 5 regions saw ‘moderate’ growth and 2 regions said expansion accelerated
  • Most banks noted a marked improvement in real estate
  • Consumer spending grew modestly
  • Factory activity up in most districts
  • Information collected on or before April 5

The report is more upbeat than the previous Beige Book, which is a surprise given softening economic data. It hints that the oft-cited season factors for the poor numbers may be for real.