The U.S. Federal Reserve's periodic report on economic activity showed a mixed picture with moderate growth nationwide, but with spots of weakness and widespread signs that growth was slowing from the preceding periods. Economic growth at a modest pace was the most common characterization of overall conditions in the five western Fed districts of St. Louis, Minneapolis, Kansas City, Dallas and San Francisco. Reports from Boston and Cleveland also pointed to positive developments or net improvements compared with the previous reporting period, but New York, Philadelphia, Richmond, Atlanta and Chicago all reported mixed conditions or deceleration in overall economic activity.

The latest “Beige Book” report is based on information gathered from mid-July through the end of August.

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