Beige Book

This economic report from the Federal Reserve Districts details a continued expansion in national economic activity at a modest to moderate pace. Consumer spending is growing and the travel and tourism sector is expanding in most districts. Business spending, demand for nonfinancial services, and manufacturing activity also show modest growth. Nonresidential construction, however, is expanding at a slower rate. Agricultural reports are mixed, and there were slight price and wage pressures. Overall, economic outlook remains optimistic despite the recent government shutdown and debt ceiling debate.