Fed's Beige Book: Economy Expanding Modestly

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Economic Update: Fed’s Beige Book

The Fed’s Beige Book (so named due to the color of the cover), which reports on economic conditions from all twelve Federal Reserve Bank Districts, indicated Wednesday that the pace of growth “expanded modestly in most districts.” This appears to be an upgrade from last month’s report which stated that the economy “expanded gradually.”

Highlights from the report include:

• Fed Says Employment Conditions Were Little Changed
  
• Consumer spending was flat to up slightly since the last report
  
• Residential real estate conditions improved since the last report. Most Districts reported strengthening in existing home sales, while prices were described as steady to increasing
  
• Manufacturing conditions were mixed, though somewhat improved as a whole since the last report
  
• Loan demand was steady to stronger in most districts
  
• Little change in prices of both finished goods and inputs

Stocks have moved only slightly higher in response to the report.

Other stories on the US Economy to review:

• NFIB: Small Business Optimism Holds Steady
  
• Jobs Report Shows Unemployment Rate Dives to 7.8% in September
  
• Factory Orders Pull Back As Expected in August
  
• Challenger: Planned Job Cuts Remain Near 21-month Low
  
• ISM Non-Manufacturing Index Improves in September, But...
  
• ADP Report Shows Job Market Improved Modestly in September
  
• ISM Manufacturing Returns to Expansion Mode in September
  
• University of Michigan Consumer Sentiment Improves in September
  
• Chicago PMI Dives Below 50 in September
  
• Personal Income and Spending a Mixed Bag in August
  
• Pending Home Sales Point To a Potential Problem
  
• GDP Growth Rate Revised Down Significantly in Q2
  
• Durable Goods Orders Plunged in August
  
• New Home Sales Steady in August
  
• Richmond Fed Index Surprises to the Upside
  
• Consumer Confidence Surges Higher in September
  
• Case-Shiller Home Price Index Improves for 3rd Straight Month
  
• Philly Fed Index Improves in Sept, But Weakness Persists
  
• LEI Dips in August
  
• Exsiting Home Sales Improve in August
  
• Housing Starts Up in August, Permits Lower
  
• Homebuilder Confidence Up Again in Sept
  
• Industrial Production, Capacity Utilization Decline in August
  
• Retail Sales Improve In August
  
• CPI - Inflation In Line With Consensus
  
• PPI Hotter Than Expected in August
  
• U.S. Productivity Improves, Labor Costs Steady

 

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