WASHINGTON — While lending to businesses was generally at high levels from October through mid-November, the latest Beige Book, a summary on current economic conditions as reported by the 12 Federal Reserve Districts, suggested a slower rate of growth than previous periods.

The demand for commercial real estate remained strong in most areas but showed signs of leveling off in some. Reports from banks and other financial institutions suggested slower growth in overall loan demand, with some districts noticing a reduction in the volume of commercial and industrial lending.

Commercial and industrial lending activity had few changes or declined in the Cleveland, Atlanta, St. Louis, Kansas City, and San Francisco districts, although it increased noticeably in the Philadelphia district and continued to show modest growth in Chicago, according to the summary.

Lending standards for construction projects and commercial real estate transactions tightened further in the New York and St. Louis districts, and they remained tight more generally and reportedly held down the volume of lending for these categories in the Boston district.

Overall, the districts reported slight increases in delinquencies on commercial and industrial loans and slightly larger increases for commercial mortgages in many areas.

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