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Consumer spending in the regioj was weak and is expected toremain soft, the closely watcher survey said, but “an uptick in manufacturing orders helped stabilizwe expectations for future production.” The Beige Book also said that “commerciak real estate market conditions deteriorated, and energt activity declined further.” Bankers, it said, “reportedf a rise in deposits and stable loan demand with no erosiohn in loan quality.” It said consumer pric e and wage pressures remained low. Meanwhile, producer prices “declinedx at a slower pace, with some firms noting that higherd commodity prices boosted material andfuel costs.
” the latest regional Beige Book — coverint a six-week period was somewhat more optimistic than the last released April 15. The report covers the Fed’s Kansaes City-based 10th District. It is based on interviewz with a sample of businessee representing key industries ineach district. The reportsd are anecdotal and do not contain but they are widely follower and help the Fed to set nationaleconomic policy. The Fed’se 10th District includes Colorado, Kansas, Oklahoma and Wyoming as well as western Missouri and northerjnNew Mexico.
Formally known as the “Summary of Commentary on Current Economic Conditions by FederapReserve District,” the Beige Book is published eighr times a year. The latest report coverws late Aprilthrough May. The Federal Reserve’s 10th Districg is also known as the Kansazs City district becausethe reserve’s regional bank is based there. .
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