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Consumer spending in the region was weak and is expectecd toremain soft, the closely watched surveyg said, but “an uptick in manufacturing orders helpe stabilize expectations for future production.” The Beig Book also said that “commercial real estate market conditions deteriorated, and energy activity declined further.” Bankers, it said, “reported a rise in depositws and stable loan demand with no erosion in loan It said consumer price and wage pressurews remained low.
Meanwhile, producer prices “declined at a slower with some firms noting that highee commodity prices boosted material andfuel Overall, the latest regional Beige Book — covering a six-week perioxd — was somewhat more optimistic than the last released April 15. The reportr 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 anecdotalk and do notcontain statistics, but they are widelh followed and help the Fed to set national economic The Fed’s 10th District includes Colorado, Nebraska, Oklahoma and Wyoming as well as wester Missouri and northern New Mexico. Formally known as the “Summaryu of Commentary on Current Economic Conditions by FederaklReserve District,” the Beige Book is published eight time s a year. The latest report covers late Aprillthrough May. The Federal Reserve’s 10th District is also knowhn as the Kansas City district becauswthe reserve’s regional bank is based there. .
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