Sector prospects from the Fed’s regional reportsLatest: October 2026 edition · released Oct 14, 2026
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Beige Book October 2026 Energy leads
This edition · released October 14, 2026

Energy and Industrials lead; Real Estate trails

Nine districts grew (two moderately) and three were flat; growth outside manufacturing was thin.

Read the October 2026 edition Beige Book PDF
Conditions index+0.23
Outlook index+0.52
Districts growing9/12

In this edition

  1. The readThis release in brief
  2. Sector scoreboardAll 11 GICS sectors, ranked
  3. Macro backdropThe National Summary, scored
  4. District by sectorHeatmap of the 12 districts
  5. What moved the scoresTop highlights
  6. District roundupTwelve Fed districts
  7. Divergences to watchWhere the signal is thin or split

Sector prospectsAll sectors →

#SectorScoreSignalLast 12 editionsMom.
1 Energy XLE +0.73 Favorable +0.14
2 Industrials XLI +0.59 Favorable +0.04
3 Information Technology XLK +0.44 Leaning Favorable +0.42
4 Materials XLB +0.19 Leaning Favorable +0.15
5 Utilities XLU +0.07 Neutral −0.06
6 Financials XLF −0.05 Neutral −0.37
7 Communication Services XLC −0.06 Neutral −0.11
8 Consumer Discretionary XLY −0.10 Neutral −0.20
9 Consumer Staples XLP −0.11 Neutral +0.07
10 Health Care XLV −0.30 Leaning Unfavorable −0.42
11 Real Estate XLRE −0.42 Leaning Unfavorable −0.42

Macro backdrop

Overall Economic Activity+0.25
Labor Markets+0.25
Inflation Pressure+1.50
Credit & Rates−1.00
Outlook+0.25

Scored −2 to +2 from the National Summary. For inflation, higher is a headwind.

DistrictsAll districts →

BostonGrowingNew YorkGrowingPhiladelphiaGrowingClevelandGrowingRichmondGrowingAtlantaGrowingChicagoFlatSt. LouisGrowingMinneapolisGrowingKansas CityFlatDallasGrowingSan FranciscoFlat

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