Federal Reserve's Beige Book has informed that it has seen signs of deceleration in the economic growth of US for the six week that ended at 31st August.

The book covers the latest economic data of the country which shows that the economic recovery of the country is losing its momentum. Meanwhile, it has reported a slight rise in the consumer spending of the country. The Beige Book is compiled eight times in a year and it is used to set the interest rates of the country.

The book is based on the survey of business statistics from all regions of US. The Federal Reserve has said that the book does not contain the reports of economic activities of the country during its reporting period which is from mid July to the end of August. But the signs of deceleration in the economic growth have been suggested from the reports of the preceding periods.

Mainly the housing market of the country hit hard at the period. The manufacturing industry also saw slowness in its growth during that period. Overall the pace of economic growth of US is creating fears in the country as well as in the world.