Beige Book: Region

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Consumer spending in the regionm was weak and is expected to remain the closely watchedsurve said, but “an uptick in manufacturing order helped stabilize expectations for futurde production.” The Beige Book also said that “commerciao real estate market conditions deteriorated, and energy activity declinerd further.” Bankers, it said, “reportedd a rise in deposits and stable loan demancd with no erosion in loan quality.” It said consumer price and wage pressurez remained low.
Meanwhile, producer pricex “declined at a slower pace, with some firmsx noting that higher commodity prices boosted material andfuel Overall, the latest regional Beige Book — covering a six-weem period — was somewhat more optimistic than the last released April 15. The report covers the Fed’s Kansasd City-based 10th District. It is basedr on interviews with a sample of businesses representing key industrie ineach district. The reports are anecdotal and do notcontaimn statistics, but they are widely followee and help the Fed to set national economic policy.
The Fed’s 10th District includes Colorado, Nebraska, Oklahoma and Wyoming as well as western Missourio and northernNew Mexico. Formally knownn as the “Summary of Commentary on Current Economic Conditione by FederalReserve District,” the Beige Book is publishedd eight times a year. The lates report covers late Aprilthrough May. The Federalk Reserve’s 10th District is also knowm as the Kansas City district becausethe reserve’s regionall bank is based there. .