Beige Book Reveals Jitters Related To Presidential Election

(RTTNews) - The presidential election is making some businesses more cautious, according to the Federal Reserve's Beige Book.

The Beige Book, a collection of anecdotal evidence about the health of the economy, published by the Fed eight times a year.

Most Districts reported a "modest" or "moderate" pace of overall growth since July.

However, Kansas City and New York reported no change in activity, and Philadelphia and Richmond noted that, while still expanding, activity slowed from the previous period.

In a hopeful sign for Texas and the Dakotas, the Beige Book found some signs of stabilization in demand for energy products and services.

In Dallas, several contacts said they believe the worst of the oil bust slump has passed, but that economic growth has not yet returned to normal levels.

However, labor market conditions remained tight in most Districts, with moderate payroll growth noted in general.