Lending continued to decline during the past six weeks but showed some regional strength in the face of tightened credit standards as the economy continued its modest recovery, a Federal Reserve report said Wednesday.
The Beige Book survey of economic conditions in the Fed's 12 districts painted a muddy picture of loan demand. Volume was mixed, and the central bank reported that lending fell in the Atlanta, Kansas City and St. Louis districts. Demand grew in Dallas. Consumers' appetite for borrowing was mixed as well, growing in the Philadelphia district but contracting in New York.