Beige book: Expansion continuing, but tariffs impacting prices and supplies

Economic activity continued to expand across the United States, with 10 of the 12 Federal Reserve Districts reporting moderate or modest growth. The outliers were the Dallas District, which reported strong growth driven in part by the energy sector, and the St. Louis District where growth was described as slight. Manufacturers in all Districts expressed concern about tariffs and in many Districts reported higher prices and supply disruptions that they attributed to the new trade policies.

All Districts reported that labor markets were tight and many said that the inability to find workers constrained growth. Consumer spending was up in all Districts with particular strength in Dallas and Richmond. Contacts reported higher input prices and shrinking margins. Six Districts specifically mentioned trucking capacity as an issue and attributed it to a shortage of commercial drivers. Contacts in several Districts reported slow growth in existing home sales but were not overly concerned about rising interest rates. Commercial real estate was largely unchanged.

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Federal Reserve beige book: moderate expansion with Dallas District speeding up

Economic activity expanded moderately in late April and early May with few shifts in the pattern of growth. The Dallas District was an exception, where overall economic activity sped up to a solid pace:

• Manufacturing shifted into higher gear with more than half of the Districts reporting a pickup in industrial activity and a third of the Districts classifying activity as "strong." Fabricated metals, heavy industrial machinery, and electronics equipment were noted as areas of strength.  Rising goods production led to higher freight volumes for transportation firms.
• By contrast, consumer spending was soft. Nonauto retail sales growth moderated somewhat and auto sales were flat, although there was considerable variation by District and vehicle type.
• In banking, demand for loans ticked higher and banks reported that increased competition had led to higher deposit rates. Delinquency rates were mostly stable at low levels.
• Homebuilding and home sales increased modestly, on net, and nonresidential construction continued at a moderate pace.
• Contacts noted some concern about the uncertainty of international trade policy. Still, outlooks for near term growth were generally upbeat.

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Beige Book: Economic expansion continuing so far in 2018, but new home production constrained by supply issues

Economic activity expanded at a modest to moderate pace across the 12 Federal Reserve Districts in January and February. On balance, Districts reported modest growth in home sales and construction, with the latter constrained by shortages of labor and materials.

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Federal Reserve Beige Book: Texas rebounding sharply in latest summary

Reports from the 12 Federal Reserve Districts indicated that the economy continued to expand from late November through the end of the year, with 11 Districts reporting modest to moderate gains and Dallas recording a robust increase. Residential real estate activity remained constrained across the country. Most Districts reported little growth in home sales due to limited housing inventory. Nonresidential activity continued to experience slight growth.

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Fed's Beige Book shows continued modest growth, but home construction remains constrained

Economic activity continued to increase at a modest to moderate pace in October and mid-November, according to anecdotal reports from contacts across the 12 Federal Reserve Districts. Residential real estate activity remained constrained, with most Districts reporting little growth in sales or construction. By contrast, nonresidential activity was consistent with previous reports of slight growth.

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Fed's September Beige Book: Continued overall growth even with hurricane impacts

Reports from all 12 Federal Reserve Districts indicated that economic activity increased in September through early October, with the pace of growth split between modest and moderate. Residential construction continued to increase, and growth in commercial construction was up slightly on balance. Low home inventory levels continued to constrain residential sales in many areas, while nonresidential real estate activity increased slightly overall.

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Beige Book: Moderate economic expansion in July and August, but low for-sale home inventory

Economic activity expanded at a modest to moderate pace across all twelve Federal Reserve Districts in July and August. Both residential and commercial construction increased slightly overall. Low inventories of homes for sale continued to weigh on residential real estate activity across the country, while commercial real estate activity increased slightly.

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BuilderBytes' MetroIntelligence Economic Update for 7/15/16

Please click here to see the edition of BuilderBytes for 7/15/16 on the Web.

In this issue of the MetroIntelligence Economic Update, I covered the following indicators:

• Producer Price Index rose 0.5 percent in June, up 0.3 percent over previous 12 months
• Federal Reserve Beige Book shows modest expansion from mid-May through late June
• Job openings slid nearly six percent in May
• Wholesale inventories rose just 0.1 percent in May as car dealers held off on new inventory
• Mortgage applications rise 7.2 percent in latest survey as rates dip further
• Initial unemployment claims largely unchanged in most recent report

Want to advertise in the newsletter and reach over 130,000 readers? Contact the editor at nslevin@penpubinc.com.

Federal Reserve Beige Book shows modest expansion from mid-May through late June

Reports from the twelve Federal Reserve Districts indicate that economic activity continued to expand at a modest pace across most regions from mid-May through the end of June.

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BuilderBytes' MetroIntelligence Economic Update for 12/6/13

Please click here to see the edition of BuilderBytes for 12/6/13 on the Web.

In this issue of the MetroIntelligence Economic Update, I covered the following indicators:

• 3Q 2013 GDP growth jumps to 3.6 percent in second estimate
• Federal Reserve report shows continuing but moderate economic growth
• November job cuts virtually unchanged from October
• October decline in factory orders in line with expectations
• Initial unemployment claims fall by 23,000 in latest report

Want to advertise in the newsletter and reach over 130,000 readers? Contact National Sales Manager Nick Cosan at nkosan@penpubinc.com.

BuilderBytes' MetroIntelligence Economic Update for 1/23/13

Please click here to see the edition of BuilderBytes for 1/23/13 on the Web.

In this issue of the MetroIntelligence Economic Update, I covered the following indicators:

• Existing home sales dip in December but 2012 finishes with highest total in five years and strongest price bump since 2005
• Federal Reserve Beige Book shows modest growth in recent weeks, but real estate a bright spot

Want to advertise in the newsletter and reach over 130,000 readers? Contact National Sales Manager Nick Cosan at nkosan@penpubinc.com.

Want to make sure your company or event is included in the events calendar? Contact editor Evan Lancaster at elancaster@penpubinc.com.

BuilderBytes' MetroIntelligence Economic Update for 12/3/12

Please click here to see the edition of BuilderBytes for 12/3/12 on the Web.

In this issue of the MetroIntelligence Economic Update, I covered the following indicators:

• Federal Reserve reports expanded economic activity 'at a measured pace'
• Personal income flat in October but savings rate rises from 3.3% to 3.4%
• Chicago PMI improves in November after falling for two months
• Initial unemployment claims fall by 23,000 in latest report
• Mortgage applications fall by 0.9% in latest survey, although purchase loans rose by 3%

Want to advertise in the newsletter and reach over 130,000 readers? Contact National Sales Manager Nick Cosan at nkosan@penpubinc.com.

Want to make sure your company or event is included in the events calendar? Contact editor Dani Smith at dsmith@penpubinc.com.