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Commercial Real Estate Activity: “Largely Unchanged”
July’s Beige Book report, the Federal Reserve’s qualitative assessment of conditions across the country’s 12 Districts, suggested that economic growth over the last month was split between “modest and moderate” as shown in Table 1,although activity continued to grow at a “solid pace” in the Dallas District due to the rebound in energy prices. Escalating trade tensions continued to weigh on respondents’ outlooks, as “manufacturers in all Districts expressed concern about tariffs” and “in many Districts, [manufacturers] reported higher prices and supply disruptions… attributed to the new trade policies.”