Economic activity expanded modestly from January to mid-February for most Federal Reserve Districts . The previous report stated:
Most Federal Reserve Districts reported that economic activity increased modestly since the previous Beige Book period, although conditions remained varied: two Districts reported little or no change in activity, while two others noted a decline. Reports on consumer spending were mixed .
Analyst Opinion of this month s Beige Book
Based on the difference in wording, it appears the economy improved since the previous Beige Book.
Note the following statement from the Federal Reserve:
This document summarizes comments received from contacts outside the Federal Reserve System and is not a commentary on the views of Federal Reserve officials.
The consolidated economic report from the 12 Federal Reserve Districts (Beige Book) stated:
Most Federal Reserve Districts reported that economic activity increased modestly since the previous Beige Book period, although conditions remained varied: two Districts reported little or no change in activity, while two others noted a decline. Reports on consumer spending were mixed . The previous report stated:
Most Federal Reserve Districts have characterized economic expansion as modest or moderate since the prior Beige Book period. However, four Districts described little or no growth, and five narratives noted that activity remained below pre-pandemic levels for at least some sectors .
Analyst Opinion of this month s Beige Book