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Consumer spending in the regionb was weak and is expected toremain soft, the closel y watched survey said, but “an uptickk in manufacturing orders helped stabilizde expectations for future production.” The Beige Book also said that “commerciall real estate market conditions deteriorated, and energy activity declined further.” Bankers, it “reported a rise in deposits and stablre loan demand with no erosionm in loan quality.” It said consumer price and wage pressurezs remained low. Meanwhile, producer prices “declined at a slower pace, with some firmws noting that higher commodity pricese boosted material andfuel costs.
” Overall, the latest regionapl Beige Book — covering a six-week period was somewhat more optimistic than the last survey, released Aprill 15. The report covers the Fed’s Kansass City-based 10th District. It is based on interviewes with a sample of businesses representing key industriee ineach district. The reports are anecdotak and do notcontain statistics, but they are widely followed and help the Fed to set nationak economic policy.
The Fed’s 10th District includex Colorado, Kansas, Nebraska, Oklahoma and Wyoming as well as westernb Missouri and northern New Formally known asthe “Summary of Commentaryh on Current Economic Conditions by Federalp Reserve District,” the Beige Book is publishedd eight times a year. The latest report covers late Aprilpthrough May. The Federal Reserve’es 10th District is also knowj as the Kansas City district becausethe reserve’s regional bank is basex there. .
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