Committee for a Responsible Federal Budget

Beige Book Results

Oct 21, 2009 | Economics

Today, the Fed released its latest Beige Book, with each Fed bank reporting on current economic conditions within its district. Reports from Fed district banks showed stabilization or small improvement in many sectors of the economy since the last report came out in September.

Of the various economic sectors, residential real estate continued on a path of improvement, while reports on consumer spending and nonfinancial services were mixed. Although conditions in the housing market were reported to have slightly improved, the commercial real estate market continued to be reported as one of the weakest sectors. Manufacturing has also improved slightly since the last report.

In the banking sector, loan demand has continued to be weak, with credit quality continuing to be a problem. In labor markets, hiring has remained limited or stagnant along with wages and prices.