- Economic activity continued to expand at a "modest to moderate pace" throughout the nation. Manufacturing activity expanded modestly, residential real estate activity increased moderately in most districts, and demand for nonresidential real estate gained overall.
- Lending activity was mixed - lending standards were largely unchanged, while credit quality improved.
- Hiring held steady or increased modestly relative to the prior reporting period.
- Full Beige Book report.
Beige Book: Modest to moderate pace of economic expansion
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