That's not the big picture. Here is the big picture...
View attachment 879028
Overall Economic Activity
On balance, economic activity slowed since the previous report, with four Districts reporting modest growth, two indicating conditions were flat to slightly down, and six noting slight declines in activity.
Labor Markets
Demand for labor continued to ease, as most Districts reported flat to modest increases in overall employment. The majority of Districts reported that more applicants were available, and several noted that retention improved as well.
Prices
Most Districts expect moderate price increases to continue into next year.
==>I don't think the US economy is that bad. Still okay.
Source :
Federal Reserve Board - Beige Book –
Beige Book