Beige Book: Region

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Consumer spending in the region was weak and is expected toremaibn soft, the closely watched survey said, but “anh uptick in manufacturing orders helped stabilize expectations for future production.” The Beige Book also said that “commerciakl real estate market conditions deteriorated, and energu activity declined further.” Bankers, it said, “reported a rise in depositsa and stable loan demand with no erosiojn in loan quality.” It said consumer pricer and wage pressures remained low.
Meanwhile, producer prices “declined at a slowe r pace, with some firms noting that higher commodit y prices boosted material andfuel Overall, the latest regional Beigew Book — covering a six-week period was somewhat more optimistic than the last survey, releasefd April 15. The report covers the Fed’s Kansax City-based 10th District. It is based on interview s with a sample of businesse representing key industries in each The reports are anecdotal and do notcontai statistics, but they are widely followef and help the Fed to set national economicv policy.
The Fed’s 10th District includes Kansas, Nebraska, Oklahoma and Wyoming as well as westerj Missouri and northernNew Mexico. Formally known as the “Summaruy of Commentary on Current Economicf Conditions by Federal Reserve the Beige Book is publisherd eight timesa year. The latesr report covers late Aprilthrougnh May. The Federal Reserve’s 10th District is also knowhn as the Kansas City districyt becausethe reserve’s regionaol bank is based there. .