Fed Beige Book Released - Summary

Fed Beige Book Report Summary:

"Report from all 12 districts generally indicated continued economy growth during June through mid-July, with numerous individual reports pointing to evidence that the pace of growth has slowed. "

"Labor Markets tightened further. Report sees weaker retails sales, expanding services, slower residential real estate" But it notes modest wage & price gains

On the real estate and construction front, residential real estate activity slowed, "with only scattered exceptions," the report said. The St. Louis and Dallas districts proved exceptions to the general slowdown, with home sales largely unchanged from last year in St. Louis and the residential market remained "resilient" in Dallas, according to the report.

"Demand for commercial space was strong in general, and the market tightened further in most districts," the report said