Economic activity was little changed most of the 12 Federal Reserve districts since September, although two districts reported modest growth, the Fed said in its seventh Beige Book report of the year. Activity in the banking sector was generally steady or up slightly, and loan demand was mixed, with some districts noting an improvement in the outlook due to the decline in interest rates.
Housing market activity has generally held up while commercial real estate markets were generally flat, according to the report. The short-lived dockworkers strike in early October caused only minor temporary disruptions. Hurricane damage impacted crops and prompted pauses in business activity and tourism in the Southeast. Agricultural activity was flat to down modestly, with some crop prices remaining unprofitably low. Energy activity was also unchanged or down modestly, and lower energy prices reportedly compressed producers’ margins.
