In another sign of a possible double-dip recession, the nation’s economic activity was modest in June and the beginning of July, according to the latest Federal Reserve Beige Book Report.
Economic activity has continued to increase, on balance, since the previous survey, although the Cleveland and Kansas City Districts reported that the level of economic activity generally held steady.
Among those Districts reporting improvements in economic activity, a number of them noted that the increases were modest, and two Districts, Atlanta and Chicago, said that the pace of economic activity had slowed recently.