While some regional Fed banks have hard data, many of those figures come from agencies that are closed during the shutdown.

According to the August Beige Book, nearly every district reported a modest rise in demand for loans.

Last week’s Beige Book noted the effects of poor growing conditions and stricter loan practices, among other things.

GDP and other hard data are more comprehensive and focus on the past. While anecdotal evidence is more fickle, but can show early signs of an economic shift.

Companies reported on their quest to fill jobs in the Fed’s Beige Book. The arrival of AI may have changed hiring needs.

As workers settle into hybrid work routines, some employers are upgrading to nicer spaces with a smaller footprint.

A labor shortage in manufacturing seems to be tempting them.

For restaurants and retailers in particular, it can lead to something the Federal Reserve’s Beige Book calls “lumpy” pricing.

The latest edition includes comments from community bankers, real estate brokers, farm-implement suppliers—you name it.

They may find it attractive to earn money while others are playing.