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To: westpacific who wrote (79432)	10/23/2002 2:25:16 PM
From: Frederick Langford	Respond to of 208838

14:07 ET Beige Book The Beige Book reports that economic activity remained sluggish in Sept and early October. Retail sales were weak across the nation, including some declines in motor vehicle sales from very high levels. Manufacturing activity had declined or grown more slowly. Home building and residential markets were upbeat, commercial real estate markets softened. Labor markets were lackluster in all Districts. Most Districts reported strong consumer loan demand and weak commercial lending activity. Credit quality deterioration was reported in some Districts.