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"Оverall economic activity continued to expand at a modest to moderate pace in Jan & early Feb" after expanding moderately in Jan. All 12 dists reported growth, vs 12 in Jan and 10 in Dec. Retail sales increased in all areas except Richmond & Atlanta, and mfg was better everywhere. Tourism improved but was worse in NY and KC. Some Dists "reported a slight increase" in residential real estate though it remains at a low level. Some saw better comm'l real estate. Most regions saw an increase in nonfinancial services. Loan demand was mixed. Non-wage input costs rose, but wage pressures remained minimal. There were some hints of price pressures: many mfrs said to be passing thru higher inputs, retailers are hiking prices or planning to, and jobs mkt was better in all areas. Book was summarized at Atlanta Fed based on info up to Feb 1
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