FED beige book

economic activity weakened across all 12 Federal Reserve districts.
The gloomy report, prepared ahead of the Fed's October policy-setting meeting and known as the "beige book," shows that regions across the U.S. have taken on a more pessimistic view about the economic outlook. Most of the Fed's 12 regional banks reported that manufacturing has slowed and consumer spending has decreased.
"Credit conditions were characterized as being tight across the 12 districts, with several reporting reduced credit availability for both financial and nonfinancial institutions," ...

http://www.federalreserve.gov/fomc/beigebook/2008/