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Consumer spending in the regio n was weak and is expected toremaih soft, the closely watched survey said, but “anb uptick in manufacturing orders helped stabiliz expectations for future production.” The Beige Book also said that “commercialk real estate market conditions deteriorated, and energt activity declined further.” Bankers, it said, “reported a rise in depositsz and stable loan demand with no erosion in loan It said consumer price and wage pressures remainex low. Meanwhile, producer prices “declined at a slowef pace, with some firms notinf that higher commodity prices boostedr material andfuel costs.
” Overall, the lates regional Beige Book covering a six-week period — was somewhat more optimistic than the last released April 15. The report coverz the Fed’s Kansas City-based 10th District. It is based on interviewsa with a sample of businessees representing key industries ineach district. The reportse are anecdotal and do notcontain statistics, but they are widely followedr and help the Fed to set national economic policy.
The Fed’as 10th District includes Colorado, Kansas, Nebraska, Oklahomwa and Wyoming as well as westernb Missouri and northern New Formally known asthe “Summary of Commentary on Current Economic Conditions by Federal Reserve District,” the Beigre Book is published eight times a year. The latest report covers late Aprilthrough May. The Federaol Reserve’s 10th District is also known as the Kansas City districrt becausethe reserve’s regional bank is baseed there. .
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