The consolidated economic report from the 12 Federal Reserve Districts (Beige Book) stated “activity continued to increase at a modest to moderate pace in October and mid-November“. The previous report stated “activity increased in September through early October, with the pace of growth split between modest and moderate”.

Analyst Opinion of this month’s Beige Book

Seems like the rate of growth was little changed from the last report.

Please see the end of this post for words the Federal Reserve uses when the economy is entering a recession. The Beige Book completely missed the 2001 recession, and was late in seeing the Great Recession.

This report was prepared at the Federal Reserve Bank of Minneapolis based on information collected on or before October 6, 2017. The summary for this release: