WASHINGTON—Economic activity overall in the U.S. was up slightly in mid-January, according to the Feds newest Beige Book analysis.  

The report states that “overall expectations for economic activity over the coming months” being slightly optimistic. It further reported that banking activity was  “slightly higher” among districts that reported it.

Other findings in the new Beige Book include:

• Residential real estate markets were mixed with reports pointing to ongoing inventory constraints, the Fed said. “Construction activity declined modestly for both residential and nonresidential units.”
• Some contacts within in the construction sector “also expressed nervousness around the impact of potential tariffs on the price of lumber and other materials.” 
• Agricultural conditions deteriorated among some among districts