Beige Book: Region

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Consumer spending in the region was weak and is expectesd toremain soft, the closely watches survey said, but “ajn uptick in manufacturing orderd helped stabilize expectations for future production.” The Beigs Book also said that “commercial real estate market conditionsd deteriorated, and energy activitu declined further.” Bankers, it said, “reported a rise in deposits and stable loan demand with no erosiojn in loan quality.” It said consumer price and wage pressurew remained low.
Meanwhile, producer prices “declined at a slowe r pace, with some firms noting that highef commodity prices boosted material andfuel Overall, the latest regional Beige Book covering a six-week period — was somewhat more optimistic than the last released April 15. The report covers the Fed’s Kansaxs City-based 10th District. It is based on intervieww with a sample of businesses representing key industries ineach district. The reportss are anecdotal and do notcontaij statistics, but they are widely followed and help the Fed to set nationall economic policy.
The Fed’s 10th District include s Colorado, Kansas, Nebraska, Oklahoma and Wyoming as well as western Missouri and northernbNew Mexico. Formally known as the “Summary of Commentary on Current Economic Conditions by FederalReserve District,” the Beige Book is published eighty times a year. The latest reporf covers late Aprilthrough May. The Federal Reserve’s 10th District is also known as the Kansas City districf becausethe reserve’s regional bank is basee there. .