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Beige Book Sentiment Indices

Principal Investigator(s): View help for Principal Investigator(s) James Mitchell, Federal Reserve Bank of Cleveland; Christian Garciga, Federal Reserve Bank of Cleveland; Ilias Filippou, Washington University in St. Louis; My T. Nguyen, Washington University in St. Louis

Version: View help for Version V16

Name	File Type	Size	Last Modified
V15			03/06/2026 10:08:AM
V16			05/01/2026 12:26:PM
beigebook_indices_icpsr.csv	text/csv	73.8 KB	11/28/2025 02:02:PM

Project Citation:

Mitchell, James, Garciga, Christian, Filippou, Ilias, and Nguyen, My T. Beige Book Sentiment Indices. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2026-05-02. https://doi.org/10.3886/E205881V16

Project Description

Summary:

We use natural language processing methods on the Beige Books to produce US and Federal Reserve District-level economic sentiment indices.

The Beige Book provides a description of economic activity in each of the 12 Districts, as prepared by the respective regional Reserve Bank, and a national summary that is prepared by one of the regional Reserve Banks on a rotating basis. We access the Beige Book back to 1970 from the public archive maintained by the Federal Reserve Bank of Minneapolis at Beige Book Archive | Federal Reserve Bank of Minneapolis (minneapolisfed.org).

To learn more about the data and methods see:
Filippou, Ilias, Christian Garciga, James Mitchell, and My T. Nguyen. 2024. “Regional Economic Sentiment: Constructing Quantitative Estimates from the Beige Book and Testing Their Ability to Forecast Recessions.” Federal Reserve Bank of Cleveland, Economic Commentary 2024-08. https://doi.org/10.26509/frbc-ec-202408

Disclaimer

These data are updated by the authors and are not an official product of the Federal Reserve Bank of Cleveland.

Scope of Project

Subject Terms: econometrics; sentiment; beige book

Geographic Coverage: Federal Reserve Districts, United States

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