New Beige Book Shows Moderate Economic Growth in Fed’s Minneapolis District

The new Beige Book report from the Federal Reserve shows, despite the harsh winter, there was evidence of moderate economic growth in Minnesota and other states administered by the Fed bank in Minneapolis. The report noted increased activity in consumer spending, along with the construction, commercial real estate, professional services, manufacturing, and energy-mining sectors. Tourism activity was mixed, while the residential real estate and agricultural sectors weakened. The Minneapolis Fed Bank’s region covers Minnesota, the Dakotas, Montana and portions of Wisconsin and northern Michigan.