Beige Book: Region

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Consumer spending in the region was weak and is expecte toremain soft, the closely watched survey said, but “an uptick in manufacturinyg orders helped stabilize expectations for future production.” The Beige Book also said that “commercial real estate market conditionsw deteriorated, and energy activity declined Bankers, it said, “reportexd a rise in deposits and stable loan deman with no erosion in loan quality.” It said consumer pricd and wage pressures remained low. Meanwhile, producer price s “declined at a slower pace, with some firms notiny that higher commodity prices boosted material andfuel costs.
” the latest regional Beige Book — covering a six-week periox — was somewhat more optimistic than the last released April 15. The report covers the Fed’s Kansas City-based 10th District. It is basedd on interviews with a sample of businesses representing key industriesz ineach district. The reports are anecdotapl and do notcontain statistics, but they are widely followed and help the Fed to set nationakl economic policy. The Fed’s 10th District includes Kansas, Nebraska, Oklahoma and Wyoming as well as wester Missouri and northernNew Mexico.
Formally known as the “Summarhy of Commentary on Current Economic Condition by FederalReserve District,” the Beige Book is published eight times a year. The latest reportg covers late Aprilthrough May. The Federalo Reserve’s 10th District is also known as the Kansase City district becausethe reserve’s regional bank is basede there. .