The Fed’s Beige Book – Color Coded for Easy Analysis

Jun 10, 2010

The Fed issued the region Beige Book with the following highlights: (Green=Better, Red=Worse or no improvement)

Fed’s Beige Book Says Economy Improved In All 12 Districts

Commercial Real Estate Remained `Weak,’ Beige Book Says

Fed Says Labor Market `Improved Slightly’ In Most Districts

Fed Says Loan Quality Stable Or Improving In Most Districts

Consumer Lending Weakened In Most Districts, Fed Says

Most Fed Districts Saw Increase In Home Sales, Construction

Manufacturing Improved `Gradually’ In 12 Districts, Fed Says

Business Spending Increased `Moderately,’ Beige Book Says

Fed Says Consumer Spending Concentrated On Necessities

Fed’s Beige Book Says U.S. Wage Pressures Remained `Minimal’

Fed Says Prices Of Final Goods, Services Were `Largely Stable’

Fed Says Home Sales Lifted By Tax Credit In Many Districts

Many Fed Districts Said Pace Of Economic Growth Was `Modest’

According to AP:

The economic recovery is finally spreading to all parts of the country. But the modest pace of growth suggests companies won’t be ramping up hiring to quickly drive down unemployment.

A Federal Reserve survey, released Wednesday, found that economic activity improved across all 12 regions tracked. The last time all regions were in a growth mode was roughly before the recession started in December 2007.

The latest survey is a tad better than the previous one released in mid-April. In that survey, all of the Fed’s regions — except for St. Louis — reported “economic activity increased somewhat.”

In the new survey, manufacturing picked up, retail sales grew, tourism improved and housing was helped by the now-expired tax credit for homebuyers. But commercial real estate is weak and labor market conditions improved only “slightly.”

The picture painted by the survey is consistent with chairman Ben Bernanke’s view — shared with Congress on Wednesday — that a modest economic recovery is unfolding. Bernanke predicted the recovery remains on track despite Europe’s debt crisis, which has put Wall Street on edge in recent weeks, and stubbornly high unemployment, now at 9.7 percent.