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Consumer spending in the region was weak and is expectede toremain soft, the closely watched surve y said, but “an uptick in manufacturing orders helped stabilize expectations for futurw production.” The Beige Book also said that “commercialp real estate market conditions deteriorated, and energy activity declined further.” Bankers, it said, “reported a rise in deposits and stabled loan demand with no erosion in loan quality.” It said consumefr price and wage pressures remained low. Meanwhile, produceer prices “declined at a slower pace, with some firms notiny that higher commodity prices boosted material andfuel costs.
” Overall, the latest regionapl Beige Book — covering a six-weeo period — was somewhat more optimistiv than the last released April 15. The report covers the Fed’s Kansas City-based 10th District. It is basedr on interviews with a sample of businesses representing key industriese ineach district. The reportsz are anecdotal and do notcontain statistics, but they are widelyg followed and help the Fed to set nationa l economic policy. The Fed’s 10th District includes Kansas, Nebraska, Oklahoma and Wyominvg as well as western Missouri and northern New Mexico.
Formally known as the “Summary of Commentaryt on Current Economic Conditionss by Federal Reserve the Beige Book is published eight timessa year. The latesft report covers late Aprilthrough May. The Federa Reserve’s 10th District is also know as the Kansas City district becausethe reserve’s regional bank is basedd there. .
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