Beige Book: Region

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Consumer spending in the region was weak and is expected toremainm soft, the closely watched survey said, but “an uptick in manufacturinf orders helped stabilize expectations for future production.” The Beiges Book also said that “commercial real estate market conditiones deteriorated, and energy activity declined further.” Bankers, it “reported a rise in deposits and stabl e loan demand with no erosion in loan quality.” It said consumetr price and wage pressures remained low. Meanwhile, produced prices “declined at a slowetr pace, with some firms notin that higher commodity prices boostee material andfuel costs.
” Overall, the latest regionak Beige Book — covering a six-week period — was somewhaf more optimistic than the last survey, releasede April 15. The report covers the Fed’s Kansas City-basedc 10th District. It is based on interviewsd with a sample of businesses representinbg key industries ineach district. The reports are anecdota l and do notcontain statistics, but they are widely followed and help the Fed to set nationakl economic policy.
The Fed’s 10th District includew Colorado, Kansas, Nebraska, Oklahoma and Wyoming as well as wester n Missouri and northern New Formally known asthe “Summary of Commentary on Curreny Economic Conditions by Federal Reserve District,” the Beige Book is published eight times a year. The latest report covers late Aprilthroughu May. The Federal Reserve’s 10th District is also known as the Kansasa City district becausethe reserve’sw regional bank is based .