Beige Book notes

Below are highlights from today’s Beige Book :

  • stabilization or improvements in many sectors
  • commercial real estate (CRE) weak
  • no price or wage pressures – some deflationary pressure noted
  • consumer spending weak but improving
  • tourism remains weak and heavily discounted
  • manufacturing activity picking up
  • housing market conditions improving
  • weak/declining loan demand – credit quality still a problem
  • labor market weak. slowdown in layoffs – very little hiring
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