The latest Federal Reserve beige book is out. You can read the entire report for Louisville’s region here.

Consumer spending and retail purchases are down, lending remains relatively unchanged and the services sector is hurting.

And Louisville also stood out from peer cities in some areas:

Home sales declined throughout most of the Eighth District. Compared with the same period in 2009, September 2010 year-to-date home sales were down 7 percent in St. Louis, 1 percent in Little Rock, and 4 percent in Memphis, but increased 8 percent in Louisville. September 2010 year-to-date single-family housing permits increased in the majority of the District metro areas compared with the same period in 2009. Permits increased 14 percent in Little Rock, 10 percent in St. Louis, and 14 percent in Memphis, but decreased 2 percent in Louisville over the same period.

Commercial and industrial real estate market conditions throughout the District continued to be mixed. Compared with the second quarter of 2010, third-quarter 2010 industrial vacancy rates increased in Little Rock and Louisville but decreased in Memphis and St. Louis. During the same period, suburban office vacancy rates increased in Little Rock but decreased in Louisville and St. Louis. In Memphis, suburban office vacancy rates remained the same. The downtown office vacancy rates increased in Louisville and Memphis but decreased in Little Rock and St. Louis. Commercial and industrial construction was slow across most of the District. Contacts in St. Louis and northeast Arkansas reported that the pipeline for commercial construction projects is dry. A contact in south-central Kentucky reported that commercial construction is stable, but still not at the same level as recent years. A contact in southern Indiana noted a few industrial development projects. A contact in Louisville reported that speculative construction remains hampered by the lack of financing and economic uncertainties.