Beige Book Released By Federal Reserve For April

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 April 16th):
   
1. Economic activity expanded at modest or moderate growth, since the last report.  Regarding economic growth: New York reported it was steady, Minneapolis reported is was firm, while Dallas had moderately strong growth.

2. Retail sales were generally positive, with mixed vehicle sales. 

3. Tourism was generally positive.
 
4. Activity in the service sector continued to increase across most districts, especially with for firms serving business customers.
 
5. Manufacturing was slow, with weakening for those manufactures supporting the residential construction industry.
  
6. Commercial real estate markets continued to be active with robust commercial construction activity.
 
7. The housing market continued to weaken, with flat or declining sales in many districts. although Boston noted improved residential markets with increased sales volume. 
   
8. Several districts experienced little or now growth in overall lending, however, San Francisco reported generally solid loan demand.  Reports of weakening residential mortgage offset any increases in commercial and industrial lending up and offsetting.  
 
9. Agricultural conditions were mixed.  Activity in the energy and exploration remain at high levels since last survey.
 
10. Most districts noted continued tight labor markets, especially for skilled workers with resulting faster wage growth but only modest growth in wages overall.   pressure on increasing wages, although most districts experiencing only moderate increases. 
 
11. Consumer prices were generally stable, with some districts having modest increases.  Most districts reported rising prices for inputs and energy.  Alternative energy industries growing, especially in solar and wind technologies.
 
  
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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