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National Summary
2023-07-12T00:00:00
/beige-book-reports/2023/2023-07-su
"Beige Book: National Summary\nJuly 12, 2023\nThis report was prepared at the Federal Reserve Bank of Minneapolis based on information collected on or before June 30, 2023. This document summarizes comments received from contacts outside the Federal Reserve System and is not a commentary on the views of Federal Reserve...
Philadelphia
2023-07-12T00:00:00
/beige-book-reports/2023/2023-07-ph
"July 12, 2023\nSummary of Economic Activity\nOn balance, business activity in the Third District continued to decline slightly. Consumer demand appeared to tick down as contacts detailed more cautious spending habits by consumers, including fewer visits and smaller purchases. High interest rates are continuing to limi...
San Francisco
2023-07-12T00:00:00
/beige-book-reports/2023/2023-07-sf
"Beige Book Report: San Francisco\nJuly 12, 2023\nSummary of Economic Activity\nEconomic activity in the Twelfth District softened modestly during the mid-May through June reporting period. Labor availability improved and overall labor market conditions eased moderately. Price increases persisted, while wage growth slo...
Dallas
2023-07-12T00:00:00
/beige-book-reports/2023/2023-07-da
"July 12, 2023\nSummary of Economic Activity\nThe Eleventh District economy continued to expand modestly buoyed by gains in the service sector and single-family housing. Manufacturing output and retail sales fell. Credit conditions tightened further, and loan demand continued to decline. Drilling activity dipped due to...
National Summary
2023-05-31T00:00:00
/beige-book-reports/2023/2023-05-su
"Beige Book: National Summary\nMay 31, 2023\nThis report was prepared at the Federal Reserve Bank of Chicago based on information collected on or before May 22, 2023. This document summarizes comments received from contacts outside the Federal Reserve System and is not a commentary on the views of Federal Reserve offic...
Philadelphia
2023-05-31T00:00:00
/beige-book-reports/2023/2023-05-ph
"May 31, 2023\nSummary of Economic Activity\nOn balance, business activity in the Third District continued to decline slightly. Although the consumer sector appeared to be growing, contacts suggest that higher sales, in part, reflect inflated prices rather than volume. High interest rates are limiting listings of exist...
Atlanta
2023-05-31T00:00:00
/beige-book-reports/2023/2023-05-at
"May 31, 2023\nSummary of Economic Activity\nEconomic activity in the Sixth District grew at a slow pace from April through mid-May. Labor markets, while still tight, eased, reducing wage pressures. Nonlabor costs stabilized, on net, though property and liability insurance premiums rose. Low- to moderate-income consume...
Minneapolis
2023-05-31T00:00:00
/beige-book-reports/2023/2023-05-mi
"May 31, 2023\nSummary of Economic Activity\nEconomic activity in the Ninth District increased slightly since the previous report. Employment grew modestly with some volatility; labor demand remained healthy, but some firms reported significant layoffs. Wage pressures remained high, while price pressures were stable. G...
Kansas City
2023-05-31T00:00:00
/beige-book-reports/2023/2023-05-kc
"Beige Book Report: Kansas City\nMay 31, 2023\nSummary of Economic Activity\nTotal economic activity across the Tenth District changed little during May. Consumer spending at restaurants and for travel picked up in recent weeks, but most contacts did not expect the surge in spending to persist into coming months. Job g...
Boston
2023-05-31T00:00:00
/beige-book-reports/2023/2023-05-bo
"May 31, 2023\nSummary of Economic Activity\nBusiness activity in the First District was about flat on balance. Retail sales increased modestly and restaurants enjoyed a seasonal uptick in activity in early May. Manufacturers posted mixed results, averaging modest revenue growth. Residential real estate sales were held...
Richmond
2023-05-31T00:00:00
/beige-book-reports/2023/2023-05-ri
"May 31, 2023\nSummary of Economic Activity\nEconomic activity in the Fifth District was little changed, on balance, in recent weeks. Manufacturing activity was unchanged as new orders from retailers softened while orders from industrial clients were strong. District ports saw a moderate decline in total volumes as imp...
Dallas
2023-05-31T00:00:00
/beige-book-reports/2023/2023-05-da
"May 31, 2023\nSummary of Economic Activity\nThe Eleventh District economy continued to expand modestly. Manufacturing output was flat while revenue in the service and retail sectors grew. Energy reports were mixed with oilfield activity steady, but declines seen on the natural gas side. Housing contacts noted a decent...
St Louis
2023-05-31T00:00:00
/beige-book-reports/2023/2023-05-sl
"Beige Book Report: St Louis\nMay 31, 2023\nSummary of Economic Activity\nEconomic conditions have remained unchanged since our previous report. Contacts continued to report difficulty hiring workers, but generally had a slightly easier time finding and retaining workers. Wages and other input costs increased modestly,...
Cleveland
2023-05-31T00:00:00
/beige-book-reports/2023/2023-05-cl
"May 31, 2023\nSummary of Economic Activity\nFourth District contact reports suggested little change in aggregate business activity, though conditions continued to vary by sector. Retail sales were relatively flat as a seasonal uptick in consumer services spending, such as at restaurants and tourist locations, was offs...
San Francisco
2023-05-31T00:00:00
/beige-book-reports/2023/2023-05-sf
"Beige Book Report: San Francisco\nMay 31, 2023\nSummary of Economic Activity\nEconomic activity in the Twelfth District expanded somewhat during the April through mid-May reporting period. Employment levels were stable and overall labor market conditions remained tight, accompanied by wage increases that showed some s...
Chicago
2023-05-31T00:00:00
/beige-book-reports/2023/2023-05-ch
"May 31, 2023\nSummary of Economic Activity\nEconomic activity in the Seventh District was little changed overall in April and early May. Contacts generally expected slow growth in the coming months, though many expressed concerns about the potential for a recession over the next year. Employment increased moderately; ...
New York
2023-05-31T00:00:00
/beige-book-reports/2023/2023-05-ny
"Beige Book Report: New York\nMay 31, 2023\nSummary of Economic Activity\nEconomic activity in the Second District declined at a moderate pace in the latest reporting period. Still, the labor market has remained solid, though the pace of hiring has slowed slightly, and wage growth was little changed. Inflationary press...
Philadelphia
2023-04-19T00:00:00
/beige-book-reports/2023/2023-04-ph
"April 19, 2023\nSummary of Economic Activity\nOn balance, business activity in the Third District appears to have declined slightly after a small increase last period. Consumer demand appeared to tick down, as contacts detailed slower traffic and smaller purchases by customers. Inflation and higher interest rates cont...
Richmond
2023-04-19T00:00:00
/beige-book-reports/2023/2023-04-ri
"April 19, 2023\nSummary of Economic Activity\nThe Fifth District economy contracted slightly since our previous report. Manufacturing activity softened as new orders fell and more customers started pushing back on price increases. District ports and trucking companies reported declines in freight volumes, particularly...
St Louis
2023-04-19T00:00:00
/beige-book-reports/2023/2023-04-sl
"Beige Book Report: St Louis\nApril 19, 2023\nSummary of Economic Activity\nEconomic conditions have remained unchanged since our previous report. Although labor markets remain tight, contacts reported further improvement in their ability to hire and retain workers. Firms struggled to pass on higher costs to customers,...
San Francisco
2023-04-19T00:00:00
/beige-book-reports/2023/2023-04-sf
"Beige Book Report: San Francisco\nApril 19, 2023\nSummary of Economic Activity\nEconomic activity in the Twelfth District grew slightly during the mid-February through March reporting period. Employment levels were stable, while labor market conditions remained tight overall. Elevated wage and price levels persisted t...
Dallas
2023-04-19T00:00:00
/beige-book-reports/2023/2023-04-da
"April 19, 2023\nSummary of Economic Activity\nThe Eleventh District economy continued to expand modestly. Manufacturing output rose slightly following a mild contraction in the previous period. Growth in the service sector continued at a modest pace, and retail sales and energy activity were flat. Loan demand weakened...
New York
2023-04-19T00:00:00
/beige-book-reports/2023/2023-04-ny
"Beige Book Report: New York\nApril 19, 2023\nSummary of Economic Activity\nEconomic activity in the Second District was little changed in the latest reporting period. The labor market has remained solid: employment increased slightly despite ongoing difficulty finding workers, wages continued to increase, and many bus...
Atlanta
2023-04-19T00:00:00
/beige-book-reports/2023/2023-04-at
"April 19, 2023\nSummary of Economic Activity\nThe Sixth District economy grew at a modest pace from mid-February through March. Labor markets improved, and wage pressures diminished slightly amid increasing labor availability. Some nonlabor costs such as shipping, eased, while others, like construction materials, rema...
National Summary
2023-04-19T00:00:00
/beige-book-reports/2023/2023-04-su
"Beige Book: National Summary\nApril 19, 2023\nThis report was prepared at the Federal Reserve Bank of Richmond based on information collected on or before April 10, 2023. This document summarizes comments received from contacts outside the Federal Reserve System and is not a commentary on the views of Federal Reserve ...
Boston
2023-04-19T00:00:00
/beige-book-reports/2023/2023-04-bo
"April 19, 2023\nSummary of Economic Activity\nBusiness activity in the First District was flat on average. Tourism maintained its strong momentum, with moderate further increases in air travel and convention activity, while retail sales were steady on balance amid mixed results. Demand softened moderately for manufact...
Chicago
2023-04-19T00:00:00
/beige-book-reports/2023/2023-04-ch
"April 19, 2023\nSummary of Economic Activity\nEconomic activity in the Seventh District was little changed overall in late February and March. Contacts generally expected slow growth in the coming months, though many expressed concerns about the potential for a recession in the coming year. Employment increased modera...
Minneapolis
2023-04-19T00:00:00
/beige-book-reports/2023/2023-04-mi
"April 19, 2023\nSummary of Economic Activity\nThe Ninth District economy grew slightly since the previous report. Employment gains were modest; labor demand remained high, but signs of softness also appeared. Wage pressures rose slightly and remained at high levels. Price pressures were steady at high levels. Consumer...
Cleveland
2023-04-19T00:00:00
/beige-book-reports/2023/2023-04-cl
"April 19, 2023\nSummary of Economic Activity\nReports from Fourth District business contacts were consistent with generally flat aggregate economic activity, though conditions continued to vary by industry segment. While consumer spending appeared to firm somewhat from that of the prior period, it remained soft, and b...
Kansas City
2023-04-19T00:00:00
/beige-book-reports/2023/2023-04-kc
"Beige Book Report: Kansas City\nApril 19, 2023\nSummary of Economic Activity\nTotal economic activity across the Tenth District declined slightly in March and April. However, almost every business contact reported no pull back in planned capital expenditures, hiring plans or planned wage increases in response to recen...
New York
2023-03-08T00:00:00
/beige-book-reports/2023/2023-03-ny
"Beige Book Report: New York\nMarch 8, 2023\nSummary of Economic Activity\nEconomic activity in the Second District leveled off in early 2023 following a period of significant contraction. Supply availability continued to improve and is expected to improve further in the months ahead. Inflationary pressures remained pe...
Richmond
2023-03-08T00:00:00
/beige-book-reports/2023/2023-03-ri
"March 8, 2023\nSummary of Economic Activity\nThe Fifth District economy grew modestly since our previous report. Manufacturing activity was unchanged, on balance, as some segments continued to grow while others contracted. District ports reported a net decline in total volumes as import activity slowed while loaded ex...
St Louis
2023-03-08T00:00:00
/beige-book-reports/2023/2023-03-sl
"Beige Book Report: St Louis\nMarch 8, 2023\nSummary of Economic Activity\nEconomic conditions have remained unchanged since our previous report. Employers continue to report tight labor markets, although the pace of wage growth has slowed. Contacts reported slowing price increases and plans to accept tighter profit ma...
Atlanta
2023-03-08T00:00:00
/beige-book-reports/2023/2023-03-at
"March 8, 2023\nSummary of Economic Activity\nThe Sixth District economy grew at a modest pace from January through mid-February. Labor markets improved somewhat amid persistent wage pressures. Many nonlabor costs increased, particularly food, utilities, and insurance; however, freight and shipping costs moderated. Low...
San Francisco
2023-03-08T00:00:00
/beige-book-reports/2023/2023-03-sf
"Beige Book Report: San Francisco\nMarch 8, 2023\nSummary of Economic Activity\nEconomic activity in the Twelfth District expanded modestly during the January through mid-February reporting period. Hiring activity grew modestly and labor supply improved somewhat. Wage and price growth moderated further, although overal...
Chicago
2023-03-08T00:00:00
/beige-book-reports/2023/2023-03-ch
"March 8, 2023\nSummary of Economic Activity\nEconomic activity in the Seventh District increased modestly overall in January and early February. Contacts generally expected slow growth in the coming months, though many expressed concerns about the potential for a recession this year. Employment increased moderately; c...
Cleveland
2023-03-08T00:00:00
/beige-book-reports/2023/2023-03-cl
"March 8, 2023\nSummary of Economic Activity\nThe Fourth District economy contracted slightly in recent weeks amid persistent softness in household spending, particularly goods spending. Several retailers and restauranteurs reported a typical post-holiday sales slump, but some said that sales fell short of their expect...
Boston
2023-03-08T00:00:00
/beige-book-reports/2023/2023-03-bo
"March 8, 2023\nSummary of Economic Activity\nBusiness activity in the First District increased slightly on average amid modest growth in retail and restaurant activity. Manufacturers reported a slightly slower pace of activity, especially for semiconductor sales, but remained upbeat. Residential real estate sales fell...
Dallas
2023-03-08T00:00:00
/beige-book-reports/2023/2023-03-da
"March 8, 2023\nSummary of Economic Activity\nThe Eleventh District economy continued to expand modestly. Manufacturing output and demand declined, but growth picked up slightly in the service sector. Retail sales fell again, and energy activity eased slightly. Rising interest rates further weakened loan demand. Agricu...
Kansas City
2023-03-08T00:00:00
/beige-book-reports/2023/2023-03-kc
"Beige Book Report: Kansas City\nMarch 8, 2023\nSummary of Economic Activity\nTotal economic activity across the Tenth District fell slightly in February. Consumer spending continued to decline, primarily due to reduced discretionary spending on leisure and retail, while non-discretionary spending on food, energy, and ...
Minneapolis
2023-03-08T00:00:00
/beige-book-reports/2023/2023-03-mi
"March 8, 2023\nSummary of Economic Activity\nThe Ninth District economy grew modestly since the previous report. Employment gains were moderate, and large firms were having more recruiting success. Wages were unchanged overall but remained at high levels. Price increases were modest overall, with input prices expected...
Philadelphia
2023-03-08T00:00:00
/beige-book-reports/2023/2023-03-ph
"March 8, 2023\nSummary of Economic Activity\nOn balance, business activity in the Third District appears to have increased slightly after declining slightly last period. Consumer demand appeared to tick up, but contacts cautioned against comparisons with year-ago sales that were dampened by the Omicron wave. Moreover,...
National Summary
2023-03-08T00:00:00
/beige-book-reports/2023/2023-03-su
"Beige Book: National Summary\nMarch 8, 2023\nThis report was prepared at the Federal Reserve Bank of New York based on information collected on or before February 27, 2023. This document summarizes comments received from contacts outside the Federal Reserve System and is not a commentary on the views of Federal Reserv...
Dallas
2023-01-18T00:00:00
/beige-book-reports/2023/2023-01-da
"January 18, 2023\nSummary of Economic Activity\nModest growth continued in the Eleventh District economy overall. Growth accelerated in manufacturing but abated in the service sector. Retail sales and home sales fell further, while oil and gas activity expanded. Rising interest rates prompted further deterioration in ...
New York
2023-01-18T00:00:00
/beige-book-reports/2023/2023-01-ny
"Beige Book Report: New York\nJanuary 18, 2023\nSummary of Economic Activity\nEconomic activity in the Second District declined significantly in the latest reporting period and most business contacts do not expect activity to increase in the coming months. Input prices continued to increase but have decelerated noticea...
Richmond
2023-01-18T00:00:00
/beige-book-reports/2023/2023-01-ri
"January 18, 2023\nSummary of Economic Activity\nOn balance, the Fifth District economy continued to expand slightly in recent weeks as consumer spending grew modestly but activity in other sectors declined. Manufacturing activity softened slightly, and new orders declined. District ports reported a moderate decline in...
Chicago
2023-01-18T00:00:00
/beige-book-reports/2023/2023-01-ch
"January 18, 2023\nSummary of Economic Activity\nEconomic activity in the Seventh District decreased slightly overall in late November and December. Contacts generally expected slow growth in the coming months, though many expressed concerns about the potential for a recession this year. Employment increased moderately...
St Louis
2023-01-18T00:00:00
/beige-book-reports/2023/2023-01-sl
"Beige Book Report: St Louis\nJanuary 18, 2023\nSummary of Economic Activity\nEconomic conditions have remained unchanged since our previous report. Contacts reported tight labor markets but continued improvement in their ability to hire and retain workers of all skill levels. Firms continued to report input price incr...
Minneapolis
2023-01-18T00:00:00
/beige-book-reports/2023/2023-01-mi
"January 18, 2023\nSummary of Economic Activity\nThe Ninth District economy grew slightly overall since the previous report. Employment grew modestly and the labor market remained healthy, although there were some signs that labor demand was softening. Wage pressures remained high but also appeared to lessen slightly. ...
Atlanta
2023-01-18T00:00:00
/beige-book-reports/2023/2023-01-at
"January 18, 2023\nSummary of Economic Activity\nSixth District economic activity grew at a gradual pace from mid-November through December. Labor market pressures eased somewhat, but wage pressures persisted. Most nonlabor cost increases moderated; however, food prices climbed, and freight costs remained elevated. Som...
National Summary
2023-01-18T00:00:00
/beige-book-reports/2023/2023-01-su
"Beige Book: National Summary\nJanuary 18, 2023\nThis report was prepared at the Federal Reserve Bank of Cleveland based on information collected on or before January 9, 2023. This document summarizes comments received from contacts outside the Federal Reserve System and is not a commentary on the views of Federal Rese...
Cleveland
2023-01-18T00:00:00
/beige-book-reports/2023/2023-01-cl
"January 18, 2023\nSummary of Economic Activity\nBusiness activity in the Fourth District slowed slightly since the previous report, though activity varied considerably by industry sector. District retailers indicated that sales over the holiday shopping season did not meet their growth expectations because inflation l...
San Francisco
2023-01-18T00:00:00
/beige-book-reports/2023/2023-01-sf
"Beige Book Report: San Francisco\nJanuary 18, 2023\nSummary of Economic Activity\nEconomic activity in the Twelfth District expanded modestly during the mid-November through December reporting period. Labor supply improved somewhat, and employment levels grew at a modest pace. Wages and prices rose at a slower pace re...
Philadelphia
2023-01-18T00:00:00
/beige-book-reports/2023/2023-01-ph
"January 18, 2023\nSummary of Economic Activity\nOn balance, business activity in the Third District appears to have declined slightly after holding steady since the first of July. Inflation and higher interest rates have dampened consumer demand for big-ticket items, including homes and autos. Employment continued to ...
Kansas City
2023-01-18T00:00:00
/beige-book-reports/2023/2023-01-kc
"Beige Book Report: Kansas City\nJanuary 18, 2023\nSummary of Economic Activity\nEconomic activity in the Tenth District continued to decline slightly through the end of 2022. Hiring activity slowed further, but the labor market remained very tight. Several segments of the service sector had modest declines in employme...
Boston
2023-01-18T00:00:00
/beige-book-reports/2023/2023-01-bo
"January 18, 2023\nSummary of Economic Activity\nBusiness activity in the First District was roughly flat on balance, with continued strength in tourism and further declines in home sales. Prices increased modestly, and many contacts reported that nonlabor cost pressures had eased considerably. Employment rose moderate...
Cleveland
2022-11-30T00:00:00
/beige-book-reports/2022/2022-11-cl
"November 30, 2022\nSummary of Economic Activity\nFourth District business activity slowed slightly in recent weeks. For the first time since the end of the downturn in 2020, a plurality of contacts said that demand for their goods and services had weakened over the prior two months. Demand growth slowed in sectors tha...
Richmond
2022-11-30T00:00:00
/beige-book-reports/2022/2022-11-ri
"November 30, 2022\nSummary of Economic Activity\nThe Fifth District economy expanded slightly, on balance, since our previous report. Manufacturing activity slowed mildly as new orders and backlogs declined while shipments remained flat. District ports saw overall activity decline as loaded exports decreased while imp...
Chicago
2022-11-30T00:00:00
/beige-book-reports/2022/2022-11-ch
"November 30, 2022\nSummary of Economic Activity\nEconomic activity in the Seventh District was little changed overall in October and early November. Contacts expected slow growth in the coming months, with many expressing concerns about the potential for a recession in 2023. Employment increased moderately; manufactur...
New York
2022-11-30T00:00:00
/beige-book-reports/2022/2022-11-ny
"Beige Book Report: New York\nNovember 30, 2022\nSummary of Economic Activity\nEconomic activity in the Second District continued to decline modestly in the latest reporting period. Business contacts have become increasingly pessimistic about the near-term outlook. Both selling prices and input prices have continued to...
Philadelphia
2022-11-30T00:00:00
/beige-book-reports/2022/2022-11-ph
"November 30, 2022\nSummary of Economic Activity\nOn balance, business activity in the Third District appears to be teetering on the edge of a decline but managed to hold fast since the prior Beige Book period. Inflation has driven consumers to lower-priced items and lower-priced stores. Rising interest rates have disc...
Kansas City
2022-11-30T00:00:00
/beige-book-reports/2022/2022-11-kc
"Beige Book Report: Kansas City\nNovember 30, 2022\nSummary of Economic Activity\nReal economic activity in the Tenth District declined slightly in recent months. The pace of job growth slowed due to the combination of lower demand from employers and ongoing labor supply constraints. Though growth in labor demand repor...
Boston
2022-11-30T00:00:00
/beige-book-reports/2022/2022-11-bo
"November 30, 2022\nSummary of Economic Activity\nBusiness activity in the First District softened slightly amid mixed results. Employment was stable on balance, but labor demand weakened for some positions. Some pricing pressures eased, and others intensified, but most prices were about the same as in the last report....
San Francisco
2022-11-30T00:00:00
/beige-book-reports/2022/2022-11-sf
"Beige Book Report: San Francisco\nNovember 30, 2022\nSummary of Economic Activity\nEconomic activity in the Twelfth District expanded modestly during the October through mid-November reporting period. Labor market conditions remained tight, and employment levels grew at a modest pace. Wages and prices rose at a slower...
Dallas
2022-11-30T00:00:00
/beige-book-reports/2022/2022-11-da
"November 30, 2022\nSummary of Economic Activity\nModest growth continued in the Eleventh District economy. Expansion in manufacturing eased slightly while service sector growth ticked up. Retail sales and home sales fell further. Rising interest rates dampened loan demand, with loan volumes declining for the second co...
St Louis
2022-11-30T00:00:00
/beige-book-reports/2022/2022-11-sl
"Beige Book Report: St Louis\nNovember 30, 2022\nSummary of Economic Activity\nEconomic conditions have remained unchanged since our previous report. Firms reported softening consumer demand, but labor shortages for high-skilled jobs remained a key issue. However, a rising share of firms reported being able to find and...
Atlanta
2022-11-30T00:00:00
/beige-book-reports/2022/2022-11-at
"November 30, 2022\nSummary of Economic Activity\nThe economy of the Sixth District grew at a tepid pace from October through mid-November. Labor market pressures eased modestly, and turnover improved somewhat. While wage pressures remained elevated, some moderation was reported. Most nonlabor cost increases slowed, bu...
Minneapolis
2022-11-30T00:00:00
/beige-book-reports/2022/2022-11-mi
"November 30, 2022\nSummary of Economic Activity\nThe Ninth District economy grew modestly overall since the previous report. Employment grew slightly since the last report, with some moderation in job openings. Wage pressures remained high. Price pressures remained strong amid signs of deceleration. Business survey re...
National Summary
2022-11-30T00:00:00
/beige-book-reports/2022/2022-11-su
"Beige Book: National Summary\nNovember 30, 2022\nThis report was prepared at the Federal Reserve Bank of Boston based on information collected on or before November 23rd, 2022. This document summarizes comments received from contacts outside the Federal Reserve System and is not a commentary on the views of Federal Re...
Dallas
2022-10-19T00:00:00
/beige-book-reports/2022/2022-10-da
"October 19, 2022\nSummary of Economic Activity\nGrowth in the Eleventh District economy continued at a modest pace overall. Expansion in manufacturing activity picked up a bit while service sector expansion eased slightly. Retail and home sales fell. Loan demand declined for the first time in nearly two years, amid ri...
Kansas City
2022-10-19T00:00:00
/beige-book-reports/2022/2022-10-kc
"Beige Book Report: Kansas City\nOctober 19, 2022\nSummary of Economic Activity\nEconomic growth in the Tenth District was modest, though employment growth maintained momentum as prior job openings were filled. However, contacts highlighted several indications of cooling labor demand, including less willingness to repl...
St Louis
2022-10-19T00:00:00
/beige-book-reports/2022/2022-10-sl
"Beige Book Report: St Louis\nOctober 19, 2022\nSummary of Economic Activity\nEconomic conditions have declined slightly since our previous report. While there were anecdotal reports of easing in the labor market, firms continued to report difficulties recruiting and retaining employees and wage pressures persisted. In...
National Summary
2022-10-19T00:00:00
/beige-book-reports/2022/2022-10-su
"Beige Book: National Summary\nOctober 19, 2022\nThis report was prepared at the Federal Reserve Bank of Dallas based on information collected on or before October 7, 2022. This document summarizes comments received from contacts outside the Federal Reserve System and is not a commentary on the views of Federal Reserve...
New York
2022-10-19T00:00:00
/beige-book-reports/2022/2022-10-ny
"Beige Book Report: New York\nOctober 19, 2022\nSummary of Economic Activity\nEconomic activity in the Second District continued to contract at a modest pace in the latest reporting period, amidst ongoing but somewhat less severe worker shortages and supply disruptions. Business contacts have become more pessimistic ab...
Philadelphia
2022-10-19T00:00:00
/beige-book-reports/2022/2022-10-ph
"October 19, 2022\nSummary of Economic Activity\nOn balance, business activity in the Third District has continued to hold steady since the prior Beige Book period. Consumer spending on food and manufacturing declined modestly, while most other sectors were little changed. Activity in a few sectors remained below pre-p...
Richmond
2022-10-19T00:00:00
/beige-book-reports/2022/2022-10-ri
"October 19, 2022\nSummary of Economic Activity\nEconomic activity in the Fifth District was little changed, on balance, with varied reports of growth across sectors. Manufacturing activity was unchanged as new orders softened, allowing producers to work through their backlogs. District ports saw strong activity, parti...
San Francisco
2022-10-19T00:00:00
/beige-book-reports/2022/2022-10-sf
"Beige Book Report: San Francisco\nOctober 19, 2022\nSummary of Economic Activity\nEconomic activity in the Twelfth District expanded modestly during the mid-August through September reporting period. Hiring activity grew at a modest pace, and wages rose further amid tight labor market conditions. Inflation remained el...
Cleveland
2022-10-19T00:00:00
/beige-book-reports/2022/2022-10-cl
"October 19, 2022\nSummary of Economic Activity\nFourth District business activity changed little in recent weeks, on balance, though it varied considerably by sector. On the one hand, contacts said that higher interest rates dampened demand in rate sensitive sectors such as automobile sales, residential real estate, a...
Minneapolis
2022-10-19T00:00:00
/beige-book-reports/2022/2022-10-mi
"October 19, 2022\nSummary of Economic Activity\nNinth District economic activity increased slightly over the reporting period. Employment grew slightly, though the volume of job openings moderated. Wage pressures remained high. Price pressures eased slightly but remained elevated. Activity increased in consumer spendi...
Boston
2022-10-19T00:00:00
/beige-book-reports/2022/2022-10-bo
"October 19, 2022\nSummary of Economic Activity\nBusiness activity in the First District was up slightly on balance, and employment increased modestly. Wage increases were moderate on average, but wages stabilized in many cases. Prices were mostly flat, and many contacts noted an easing of cost pressures. Travel and to...
Atlanta
2022-10-19T00:00:00
/beige-book-reports/2022/2022-10-at
"October 19, 2022\nSummary of Economic Activity\nEconomic activity in the Sixth District grew slightly from mid-August through September. Labor market pressures continued to ease, but labor availability largely remained tight. While wage pressures persisted, some easing was reported, and firms continued to offer a vari...
Chicago
2022-10-19T00:00:00
/beige-book-reports/2022/2022-10-ch
"October 19, 2022\nSummary of Economic Activity\nEconomic activity in the Seventh District was little changed overall in late August and September. Contacts expected slow growth in the coming months, with many expressing concerns about the potential for a recession. Employment increased moderately, business spending wa...
National Summary
2022-09-07T00:00:00
/beige-book-reports/2022/2022-09-su
"Beige Book: National Summary\nSeptember 7, 2022\nThis report was prepared at the Federal Reserve Bank of San Francisco based on information collected on or before August 29, 2022. This document summarizes comments received from contacts outside the Federal Reserve System and is not a commentary on the views of Federal...
Chicago
2022-09-07T00:00:00
/beige-book-reports/2022/2022-09-ch
"September 7, 2022\nSummary of Economic Activity\nEconomic activity in the Seventh District decreased modestly overall in July and early August. Contacts expected slow growth in the coming months, with many expressing concerns about the potential for a recession. Employment increased moderately, business spending was l...
New York
2022-09-07T00:00:00
/beige-book-reports/2022/2022-09-ny
"Beige Book Report: New York\nSeptember 7, 2022\nSummary of Economic Activity\nEconomic activity in the Second District contracted modestly in the latest reporting period, with worker shortages continuing but supply backlogs easing somewhat. Businesses did not expect much improvement in the months ahead. Selling prices...
St Louis
2022-09-07T00:00:00
/beige-book-reports/2022/2022-09-sl
"Beige Book Report: St Louis\nSeptember 7, 2022\nSummary of Economic Activity\nEconomic conditions have declined slightly since our previous report. Consumer demand for goods and services has slowed slightly and price increases have continued across a broad range of sectors. Labor shortages have limited activity in ser...
Atlanta
2022-09-07T00:00:00
/beige-book-reports/2022/2022-09-at
"September 7, 2022\nSummary of Economic Activity\nThe Sixth District economy expanded slightly from July through mid-August. Pressures in the labor markets lessened somewhat, but overall, the labor market remained tight amid persistent wage pressures. Certain nonlabor costs fell, but remained elevated as compared with ...
Boston
2022-09-07T00:00:00
/beige-book-reports/2022/2022-09-bo
"September 7, 2022\nSummary of Economic Activity\nBusiness activity expanded at a modest pace on balance, led by solid revenue growth among retailers and manufacturers and robust tourism activity. In contrast, commercial real estate activity was flat and home sales fell, developments attributed in part to higher intere...
Philadelphia
2022-09-07T00:00:00
/beige-book-reports/2022/2022-09-ph
"September 7, 2022\nSummary of Economic Activity\nOn balance, business activity in the Third District held steady \u2013 a pause from the slight growth of the prior Beige Book period. Broad nonfinancial services activity grew slightly, but most other sectors were flat or down. Activity in a few sectors remained below p...
Minneapolis
2022-09-07T00:00:00
/beige-book-reports/2022/2022-09-mi
"September 7, 2022\nSummary of Economic Activity\nEconomic activity in the Ninth District was slightly lower since early July. Employment grew moderately since the last report. Wage pressures were strong as labor demand remained healthy and labor availability was still tight. Price pressures were strong but eased sligh...
Kansas City
2022-09-07T00:00:00
/beige-book-reports/2022/2022-09-kc
"Beige Book Report: Kansas City\nSeptember 7, 2022\nSummary of Economic Activity\nThe Tenth District economy expanded slightly, with much of the growth in business sales and revenue being driven by higher prices rather than a greater volume of activity. Consumer spending was mostly unchanged. Yet, more households began...
Richmond
2022-09-07T00:00:00
/beige-book-reports/2022/2022-09-ri
"September 7, 2022\nSummary of Economic Activity\nOn balance, economic activity in the Fifth District slowed slightly in recent weeks. Manufacturers reported a modest pull back in new orders while supply chains improved slightly, leading to reduced backlogs and higher inventory levels. District ports and trucking compa...
Dallas
2022-09-07T00:00:00
/beige-book-reports/2022/2022-09-da
"September 7, 2022\nSummary of Economic Activity\nGrowth in the Eleventh District economy continued at a modest pace, though job growth was quite robust. Manufacturing and service sector activity continued to slow, growing at a diminished clip from earlier this year. Retail sales were flat to down, and homes sales rema...
San Francisco
2022-09-07T00:00:00
/beige-book-reports/2022/2022-09-sf
"Beige Book Report: San Francisco\nSeptember 7, 2022\nSummary of Economic Activity\nEconomic activity in the Twelfth District expanded modestly during the July through mid-August reporting period. Hiring activity continued to grow at a modest pace, and wages grew further amid tight labor market conditions. Inflation re...
Cleveland
2022-09-07T00:00:00
/beige-book-reports/2022/2022-09-cl
"September 7, 2022\nSummary of Economic Activity\nAfter declining slightly during the prior reporting period, Fourth District business activity steadied in recent weeks. Retailers reported that higher inflation had constrained households' ability to spend on some items, particularly among lower-income households. In ad...
Philadelphia
2022-07-13T00:00:00
/beige-book-reports/2022/2022-07-ph
"July 13, 2022\nSummary of Economic Activity\nOn balance, business activity in the Third District continued to grow slightly. Modest growth of broad nonfinancial services outweighed declines in manufacturing and some service sectors; in a few sectors, supply constraints obscured whether demand had declined. Employment ...
National Summary
2022-07-13T00:00:00
/beige-book-reports/2022/2022-07-su
"Beige Book: National Summary\nJuly 13, 2022\nThis report was prepared at the Federal Reserve Bank of Atlanta based on information collected on or before July 13, 2022. This document summarizes comments received from contacts outside the Federal Reserve System and is not a commentary on the views of Federal Reserve off...
New York
2022-07-13T00:00:00
/beige-book-reports/2022/2022-07-ny
"Beige Book Report: New York\nJuly 13, 2022\nSummary of Economic Activity\nEconomic growth in the Second District slowed to a crawl in the latest reporting period, as demand from households and businesses weakened amidst ongoing labor shortages, supply backlogs, and elevated Covid levels. Business optimism about the ne...
St Louis
2022-07-13T00:00:00
/beige-book-reports/2022/2022-07-sl
"Beige Book Report: St Louis\nJuly 13, 2022\nSummary of Economic Activity\nEconomic conditions have improved at a modest pace since our previous report. Ongoing price increases have contributed to a mixed outlook, though demand remained stable. Labor shortages continue to place upward pressure on wages, though there ar...
Dallas
2022-07-13T00:00:00
/beige-book-reports/2022/2022-07-da
"July 13, 2022\nSummary of Economic Activity\nGrowth in the Eleventh District economy slowed to a modest pace, with part of the deceleration in demand attributed to surging prices, rising interest rates, and higher uncertainty. Manufacturing and service sector activity slowed, and retail spending and homes sales weaken...