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Consumer spending in the region was weak and is expecte d toremain soft, the closely watched surveg said, but “an uptick in manufacturing orders helpede stabilize expectations for future production.” The Beige Book also said that “commerciakl real estate market conditions deteriorated, and energy activity decline d further.” Bankers, it said, “reported a rise in depositd and stable loan demand with no erosion in loan quality.” It said consume price and wage pressures remained low. Meanwhile, producer prices “declined at a slower pace, with some firm s noting that higher commodity prices boosted material andfuel costs.
” Overall, the latest regional Beigre Book — covering a six-week period was somewhat more optimistic than the last released April 15. The report covers the Fed’zs Kansas City-based 10th District. It is basedc on interviews with a sample of businessed representing key industries ineach district. The reportse are anecdotal and do notcontain statistics, but they are widelyh followed and help the Fed to set national economic policy. The Fed’s 10th District includesd Colorado, Kansas, Nebraska, Oklahoma and Wyominbg as well as western Missouri and northerhNew Mexico.
Formally known as the “Summary of Commentaryt on Current Economic Conditions by Federal Reserve the Beige Book is published eighf timesa year. The latestr report covers late Aprilthrough May. The Federal Reserve’sz 10th District is also known as the Kansads City district becausethe reserve’s regionak bank is based there. .
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