The Federal Reserve has just released its so-called Beige Book, which offers an informal review of economic conditions in each of the fed’s regional districts.
The latest beige book covers Aug. 27 through Oct. 7. It can be accessed here: www.federalreserve.gov/fomc/beigebook/2011/.
The report says the economic picture in the Fed’s St. Louis district – which encompasses Memphis – is decidedly mixed at the moment.
From the report:
“Manufacturing activity has continued to increase, while reports of activity in the services sector have been mixed. Residential real estate market activity has continued to decline, while commercial real estate market conditions varied across the District. Lending at a sample of small and mid-sized District banks declined slightly during the three-month period from mid-June to mid-September.”