The Fed's Beige Book was just released, which gives a snapshot of economic activity among the various Fed districts. It didn't say anything that we didn't already know.
Here are the highlights:
Reports from the twelve Federal Reserve Districts suggest that economic activity increased modestly during the survey period of mid-November through December, but at a slower pace when compared with the previous survey period. Among Districts, seven reported a slight increase in activity, two reported mixed conditions, and activity in three Districts was described as slowing. Most reports on retail activity indicated subdued holiday spending and further weakness in auto sales. However, most reports on tourism spending were positive. Residential real estate conditions continued to be quite weak in all Districts. Reports on commercial real estate activity varied, with some reports noting signs of softening demand. Manufacturing reports varied across industries, with pronounced weakness noted in housing-related industries, as well as the automobile industry. Strong export orders and increased demand in industries whose products compete against imports was reported by some Districts.