Entries in Beige Book (4)


Fed's 'Beige Book' Offers Encouraging Economic News

Comstock Images/Thinkstock(WASHINGTON) -- The Federal Reserve's latest Beige Book report finds that the economy is growing at a "moderate pace" and that hiring, contrary to the Labor Department's figures last week, held steady during May.

According to the study by the nation's central bank, "Economic outlooks remain positive, but contacts were slightly more guarded in their optimism."

Most of the job growth occurred in manufacturing, construction, information technology and professional services sectors.  In a further sign the jobs market might be getting better, some areas of the country are having a hard time finding qualified people, especially in the high-tech field.

Still, the Beige Book report contained the ongoing worries about the European debt crisis and Washington lawmakers' inability to compromise on pressing issues including the debt ceiling and extending tax cuts.

Copyright 2012 ABC News Radio


Mixed Markets with Beige Book

Medioimages/Photodisc/Thinkstock(NEW YORK) -- Wednesday proved to be a lackluster session for the markets, despite the release of the Federal Reserve's latest Beige Book.

The Dow closed down 13 points, with the Nasdaq gaining only 8 and the S&P a fraction of a point Wednesday.

The Federal Reserve's latest snapshot of the economy showed a lot more green than we've seen lately.  The final weeks of 2011 were the strongest since the economy began to show the first signs of slipping toward recession again in late spring.  Consumers spent more, factories made more, and the auto industry enjoyed its best stretch of the year.

Copyright 2012 ABC News Radio


Not Much Movement in Wall Street Ahead of 'Beige Book' Report

Hemera/Thinkstock(NEW YORK) -- The U.S. stock market is poised to open Wednesday relatively unchanged from the day before; stock futures are slightly down as investors await an afternoon report from the Federal Reserve.

The Fed is set to release its so-called Beige Book at 2 p.m. ET.  The economic survey will likely guide the central bank's policy-setting meeting scheduled for later this month.

On Tuesday, Wall Street was boosted by reports on hiring and auto sales.  The Dow Jones Industrial Average rose 70 points, the Nasdaq climbed 26 and the S&P 500 added 12.

Overseas, European stocks are trading lower on Wednesday, while Asian ones wrapped up the day mostly with gains.  Australia’s S&P/ASX 200 jumped 0.85 percent, Hong Kong’s Hang Seng tacked on 0.78 percent, Japan’s Nikkei index rose 0.30 percent, and Taiwan’s Taiex went up 0.13 percent.

China’s Shanghai Composite and South Korea’s Kospi, on the other hand dropped, shedding 0.42 percent and 0.41 percent, respectively.

Copyright 2012 ABC News Radio


Fed's 'Beige Book' Report Finds Slow Economic Growth Across US

Comstock Images/Thinkstock(WASHINGTON) -- With a government default looming as lawmakers struggle to strike a deal to lift the nation's $14.3 trillion limit, Americans faced even more negative news about the economy on Wednesday.

The Federal Reserve said in its latest "beige book" report on the financial state of the central bank's 12 districts that two-thirds of these areas experienced slower economic recovery during June and the early part of July.

This follows a pattern since the start of the year when things began looking up due to increased holiday sales in December and companies starting to hire.  However, higher fuel costs, the natural disasters in Japan and unease throughout Europe and the Middle East grounded the modest recovery to a halt.

And yet, there was actually some good news in most of the regional districts watched by the Fed.

According to the "beige book," inflation pressure has eased throughout most of the U.S. and a drop in gasoline prices has meant that consumers are spending more in stores.

There was also a slight growth in hiring although the housing market, which triggered the recession in November 2007, remains weak.

Copyright 2011 ABC News Radio

ABC News Radio