Overall, business activity in the Federal Reserve district that includes Delaware continues to improve, but the pace has slowed slightly in most sectors since the previous Beige Book.
The Beige Book is the central bank’s economic update.
Manufacturing activity has eased slightly, but most major manufacturing sectors continue to grow, according to the report. After a strong first quarter, partially due to the unseasonably mild weather, retail sales slowed somewhat in April but appear to be gaining strength based on customer traffic in May.
Although sales remain strong overall, motor vehicle dealers also reported softer sales in April. Third District banks report steadier growth in lending and continued strong credit quality since the last Beige Book.
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FRB: Beige Book – June 6, 2012.
