On a day packed with releases of government statistics on the economy, one to watch will be the 2 p.m. release of the Federal Reserve's 'beige book' report. The Fed publishes it eight times a year.
It is a compilation of anecotal information about current economic conditions in the 12 districts that make up the Federal Reserve system.
So yes, we'll be getting a snapshot of how Philadelphia is faring during this economic slowdown. Check back this afternoon for details.
In the meantime, if you want to do like I am, check out the Fed's beige book page and read up on last year's reports. It ain't poetry:
Business activity expanded modestly in the Third District in October and early November.
But you can limit your scanning to the Philadelphia portions. I'll be looking for a change in the bank lending environment.
