Beige Book Released By Federal Reserve for March

The Federal Reserve recently published their latest issue of the Beige Book.  It is available online.

The following is a brief list of it's overall (national) summary findings (using data as of February 26th):

1. Economic activity continued to expand at a modest growth with several districts noting some slowing, since the last report.  Philadelphia reported improvements in economic conditions.

2. Steady growth in retail sales was reported, while vehicles sales remained sluggish. 

3. Tourism was generally positive.
 
4. Activity in the service sector continued to expand in most districts, with strong increases in health care, accounting, legal, and technology services.
 
5. Manufacturing was steady or expanding, despite continued weaknesses in production related to construction and the auto industry.
  
6. Commercial markets continued to firm or remain solid
 
7. The housing market remained weak, but several districts showed signs of stabilizing. 
   
8. Financial institutions reported remained unchanged with commercial and industrial lending up and offsetting residential mortgage lending.  
 
9. Agricultural conditions generally improved.  Activity in the energy and exploration remain at high levels, with some districts reporting a slowdown from previous survey.
 
10. Most districts noted expansion in labor market, with tight supply of skilled and professional workers putting pressure on increasing wages, although most districts experiencing only moderate increases. 
 
11. Prices changed little in most districts.  Energy and construction-related materials prices have fallen, but food prices have increased in several districts.
 
  
Note: This represents the national summary for ALL districts combined.  The report also provides more detail on each item summarized nationally, as well as reporting by each district on all items.
 
 
 
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