The new Dallas Beige Book is out, and the bottom line? The district’s economy is moderately strong, if a little slower for the summer owing to — no kidding — all that rain we’ve had. And even better — it’s as slow as it’s going to get, the Dallas Fed says.
Most contacts remain cautiously optimistic that overall economic growth, while slower than a year ago, will not deteriorate further. Manufacturing activity cooled, but there was a slight rebound in the service sector. Energy activity remained high but with little growth. Residential construction and real estate continued to soften, but nonresidential activity is still robust. There was little change in the financial services sector. Agricultural conditions continue to be mostly favorable.
Full report here.
Edit: Same goes for the national economy.
