Beige Book: Economic Activity Slowed Since Previous Report

Economic activity slowed since the mid-October report, with discretionary consumption declining as consumers showed more price sensitivity.

• "On balance, economic activity slowed since the previous report, with four Districts reporting modest growth, two indicating conditions were flat to slightly down, and six noting slight declines in activity."
• "Retail sales, including autos, remained mixed; sales of discretionary items and durable goods, like furniture and appliances, declined, on average, as consumers showed more price sensitivity."
• "Consumer credit remained fairly healthy, but some banks noted a slight uptick in consumer delinquencies."