Fed Beige Book: Outlook ‘Positive’ in Much of U.S. in Nov.-Dec.
2014-01-15 19:00:04.81 GMT
By Vivien Lou Chen
Jan. 15 (Bloomberg) -- 9 of Fed’s 12 districts reported
economy moderately expanding from late Nov.-Dec., as
manufacturing increased and retail and real estate markets
improved, according to Fed’s Beige Book report.
* Economic outlook was “positive” in most districts,
according to Beige Book compiled by Boston Fed with
information collected on or before Jan. 6
* 8 districts reported increases in hiring and higher wage
movements
* Richmond cited “numerous reports of strong labor
demand”
* 9 districts with moderate pace of growth were San Francisco,
Dallas, Minneapolis, Chicago, Cleveland, New York, Richmond,
Atlanta, St. Louis
* Boston, Philadelphia cited “modest growth,” while Kansas
City reported economy held “steady”
* Almost half of districts reported that prices were stable;
most other districts saw small increases in prices
* Retail activity increased in 9 districts; exceptions were
St. Louis and Kansas City, where results were mixed, and
Richmond, which had softer sales
* All districts reported year-over-year increases in
manufacturing, yet Kansas City saw slower growth in Dec.
* Real estate generally continued to improve
* Most places had increasing home sales and construction,
along with rising prices, while a few had slowing or
declining activity in recent mos.
* Reports on commercial real estate were also positive,
with construction generally increasing
* Loan volumes haven’t changed substantially among district
reports that mentioned banking
* 8 districts report increasing energy activity; Cleveland and
Atlanta cite robust growth
* NOTE: Fed’s next meeting is Jan. 28-29 in Washington
To contact the reporter on this story:
Vivien Lou Chen in San Francisco at +1-415-617-7078 or
vchen1@bloomberg.net
To contact the editor responsible for this story:
James Holloway at +1-212-617-4454 or
jholloway8@bloomberg.net
2014-01-15 19:00:04.81 GMT
By Vivien Lou Chen
Jan. 15 (Bloomberg) -- 9 of Fed’s 12 districts reported
economy moderately expanding from late Nov.-Dec., as
manufacturing increased and retail and real estate markets
improved, according to Fed’s Beige Book report.
* Economic outlook was “positive” in most districts,
according to Beige Book compiled by Boston Fed with
information collected on or before Jan. 6
* 8 districts reported increases in hiring and higher wage
movements
* Richmond cited “numerous reports of strong labor
demand”
* 9 districts with moderate pace of growth were San Francisco,
Dallas, Minneapolis, Chicago, Cleveland, New York, Richmond,
Atlanta, St. Louis
* Boston, Philadelphia cited “modest growth,” while Kansas
City reported economy held “steady”
* Almost half of districts reported that prices were stable;
most other districts saw small increases in prices
* Retail activity increased in 9 districts; exceptions were
St. Louis and Kansas City, where results were mixed, and
Richmond, which had softer sales
* All districts reported year-over-year increases in
manufacturing, yet Kansas City saw slower growth in Dec.
* Real estate generally continued to improve
* Most places had increasing home sales and construction,
along with rising prices, while a few had slowing or
declining activity in recent mos.
* Reports on commercial real estate were also positive,
with construction generally increasing
* Loan volumes haven’t changed substantially among district
reports that mentioned banking
* 8 districts report increasing energy activity; Cleveland and
Atlanta cite robust growth
* NOTE: Fed’s next meeting is Jan. 28-29 in Washington
To contact the reporter on this story:
Vivien Lou Chen in San Francisco at +1-415-617-7078 or
vchen1@bloomberg.net
To contact the editor responsible for this story:
James Holloway at +1-212-617-4454 or
jholloway8@bloomberg.net