The U.S. economy showed signs of slowing in June and early July in three of 12 Federal Reserve bank districts, the central bank said Wednesday in its latest Beige Book report. That's up from one region in May.
The slowdown was concentrated, for the most part, in the New York, Philadelphia, and Cleveland districts.
Factory production was increasing slowly, but hiring was viewed as tepid, the Fed said.
The Fed's Beige Book is a summary and analysis of economic activity and conditions, issued roughly two weeks prior to monetary policy meetings of the Fed."Book" is an adequate expression. This month, the Beige Book is 50 pages long. It's prepared with the aid of reports from the district Federal Reserve Banks.Don't bother reading the book. It's not worth the slog. Beige Book Highlights
The Federal Reserve's latest Beige Book is set for release at the top of the hour. The Beige Book is a collection of anecdotal observations from each of the Federal Reserve's 12 business districts regarding the current economic outlook in their region.
The Fed's latest Beige Book report is set for release at the top of the hour. The Fed's Beige Book is an anecdotal report of economic conditions in each of the Fed's twelve districts. The report is gathered from Federal Reserve staff meetings with local directors and interviews with key business contacts, economists, market experts, and other sources.
S&P 500 futures are jumping exuberantly as Japan and China PMIs print above expectations and back in expansion territory (Japan best in 3 months, China best in 7 months). This is China's best 2-month PMI rise since Oct 2010 (which makes perfect sense amid the collapsing housing market and CCFD ponzi probe) - which provides the perfect propaganda meme that targeted RRR cuts workl. However, while stocks don;t care to scratch the surface, there are 2 glaring similarities that could become a problem.
The Federal Reserve said “moderate” growth across most of the country last month was buoyed by gains in holiday spending by consumers, an improving labour market and strength in manufacturing.
“The economic outlook is positive in most districts, with some reports citing expectations of ‘more of the same’ and some expecting a pickup in growth,” the Fed said today in its Beige Book business survey, based on reports gathered on or before Jan. 6.
There are facts; then there are completely fabricated, made up numbers. And then there is Chinese "data." After having been exposed in the past several years countless times on these pages alone as being absolute manipulated propaganda hogwash, it is amazing that anyone, anywhere still believes anything to come out of the official Beijing mouthpiece, which merely adjusts a few variable cells in the big central planning goalseeking excel spreadsheet and reports the answer.
Heads up! Minutes away from the release of the Federal Reserve Beige Book, due out at 2 PM ET. The Beige Book report gives an anecdotal update on economic conditions in each of the 12 Federal Reserve districts around the country. It is released eight times per year.