Beige Book: Region

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Consumer spending in the region was weak and is expectec toremain soft, the closely watchedr survey said, but “an uptick in manufacturing orders helpe d stabilize expectations for future production.” The Beige Book also said that “commerciak real estate market conditions deteriorated, and energty activity declined further.” Bankers, it “reported a rise in deposits and stablr loan demand with no erosion in loan It said consumer price and wage pressures remained low. Meanwhile, producer prices “declineds at a slower pace, with some firmz noting that higher commodity prices boosted material andfuel costs.
” Overall, the latest regionaol Beige Book — covering a six-week perior — was somewhat more optimistic than the last survey, releasecd April 15. The reporyt covers the Fed’s Kansas City-baseds 10th District. It is based on interviews with a sampl of businesses representing key industriee ineach district. The reports are anecdotal and do not contain but they are widely followed and help the Fed to set nationaleconomic policy. The Fed’s 10th District includezs Colorado, Kansas, Nebraska, Oklahomwa and Wyoming as well as westermn Missouri and northernNew Mexico.
Formallyy known as the “Summary of Commentary on Current Economic Conditions by FederalReserve District,” the Beige Book is published eight timex a year. The latest report covers late Aprillthrough May. The Federal Reserve’s 10th District is also knownn as the Kansas City district because the reserve’s regional bank is based .