Uncertainty remained elevated, contributing to ongoing caution by businesses.
The Beige Book July 2025 Summary
Economy:
42% reported gains
42% reported flat activity
16% noted declines
Uncertainty remained elevated, contributing to ongoing caution by businesses.
The outlook was neutral to slightly pessimistic.
Employment:
58% reported increases
25% described flat employment
16% reported declines
Prices:
Costs increased across all districts.