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 is set to release its latest Beige Book economic report at the top of the hour. The Beige Book is a collection of anecdotes about the economy compiled by each of the Fed's 12 District banks.
Heads up – we are minutes away from the release of the Federal Reserve Beige Book report on economic conditions around the United States, due out at 2 PM ET. This particular Beige Book could be interesting. The last one was released on January 16, before the effects of the payroll tax cut expiry at the beginning of January would have shown up in the data.
The stock market may be providing a bit of relief today but don't let that fool you. The Federal Reserve is here to make sure that any whiff of optimism in the air is swiftly extinguished.
The central bank released its latest Beige Book, which includes information from the twelve regions as of February 23, and it ain't pretty. Beige is like ennui. Today's report is more like despair. It's the Beige Book in a new shade of gray.
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.