Beige Book: activity rose modestly across most Districts

The Federal Reserve’s Beige Book for August 2026 summarizes what Reserve Bank contacts said about the economy. It is not a forecast and not an FOMC decision. The Minneapolis Fed prepared the national summary from information collected on or before August 24, 2026.

Overall activity increased modestly since early July. Ten of the twelve Districts reported growth in the slight-to-moderate range; two reported no change. Consumer spending grew slightly on balance. Manufacturing picked up in most Districts, with some contacts pointing to defense and data-center orders. Residential construction declined while nonresidential construction rose on balance.

Employment rose only very slightly. Wage growth was modest to moderate in most Districts. Prices increased moderately in eight Districts. Contacts kept citing energy, transportation, metals, petrochemicals, health care, and insurance as cost pressures.

The report is public on the Board’s site. Use the District chapters for the local color; use the national summary for the clerk’s overview.

Source: https://www.federalreserve.gov/monetarypolicy/beigebook202608-summary.htm

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This is a Notice Nearby publisher-desk Federal brief — a short in-house summary of a public federal filing or agency press release. It is not official agency minutes, not a newspaper story, and not Legal Publication. It does not satisfy a statutory notice requirement.