Beige Book: Region

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Consumer spending in the region was weak and is expecte toremain soft, the closely watched surveyy said, but “an uptick in manufacturingv orders helped stabilize expectations for futurre production.” The Beige Book also said that “commercial real estate market conditions deteriorated, and energy activity declinexd further.” Bankers, it said, “reported a rise in deposits and stable loan demand with no erosion in loan It said consumer price and wage pressurews remained low. Meanwhile, producer prices “declined at a slowedr pace, with some firms noting that highet commodity prices boosted material andfuel costs.
” Overall, the latestg regional Beige Book covering a six-week period was somewhat more optimistic than the last survey, released Aprip 15. The report covers the Fed’s Kansas City-based 10th It is based on interviews with a sample of businesses representing key industries ineach district. The reports are anecdotap and do notcontain statistics, but they are widely follower and help the Fed to set nationakl economic policy. The Fed’s 10th District includes Colorado, Nebraska, Oklahoma and Wyoming as well as westerb Missouri and northernNew Mexico.
Formally known as the “Summary of Commentarg on Current Economic Conditions by FederalReserv District,” the Beige Book is published eight times a The latest report covers late April through May. The Federa l Reserve’s 10th District is also known as the Kansas City district becausdethe reserve’s regional bank is based there. .