"Economic activity continued to increase across all districts, with the pace of growth characterized as slight to modest in most Districts," according to the Fed's Beige Book (based on information collected on or before Oct. 9).
Manufacturing activity increased at a "moderate" pace and residential housing markets continued "to experience steady demand for new and existing homes."
Consumer spending remained positive, but some districts reported a leveling off of retail sales and slight increase in tourism activity.
Input costs, meanwhile, generally rose faster than consumer prices, with higher input costs mostly led by materials costs, especially lumber and steel.
Some sectors — notably construction, manufacturing, retail, and wholesale — were able to pass along the higher costs to customers, the report said.
On the downside, commercial real estate conditions continued to deteriorate in many districts, "with the exception being warehouse and industrial space where construction and leasing activity remained steady."
While delinquency rates remained stable, "banking contacts in many Districts expressed concern" that they may rise in coming months.
Among the bright spots, activity in the Chicago district was robust, activity in Dallas picked up its pace, and the Cleveland and San Francisco area economies expanded moderately.
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