Investor Series – Performance
August 10, 2018
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September 14, 2018

The Beige Book

What is the Beige Book?

The Beige Book is a Federal Reserve system publication that examines current economic conditions across all 12 Federal Reserve Districts. It prospects information based on a variety of mostly qualitative information. This approach creates an opportunity to identify emerging trends and characterize economic forces.

The information captured in the beige book compliments the analysis that is conducted by economists to assess current economic conditions in the different Federal Reserve Districts. With this comparison, economists are better able to compare economic activity in different parts of the country, which is useful when evaluating an outlook for the national economy. Overall, the Beige Book gives a broad view of our current economic state, that allows the Federal Reserve to predict trends as well as anticipate change. Furthermore, this is an opportunity to see how the Federal Reserve draws logical and qualitative conclusions from the data they gather.

 

What areas does the Beige Book Covers?

The Beige Book covers the following areas.

Overall Economic Activity

The 12 Federal Reserve Districts reported moderate growth. The Dallas District performed exceedingly week, with strong growth driven by the energy sector. All districts however expressed concerns new tariffs and trade policies. Furthermore, all districts reported that labor markets were tight due to an inability to find workers. Also, consumer spending was up in all districts. Lastly, commercial real estate was largely unchanged.

 

Twelfth District – San Francisco.

The San Francisco Fed looks at the labor market, wages, price inflation, retail sales, service industry activities, manufacturing, agriculture, construction, real estate markets, and lending activities.  Activity in this district expanded at a moderate pace. While conditions in the labor market were tight, prices steadily began to rise. While some activity in the consumer and business sector edged down, sale of retail good picked up marginally. Residential and commercial real estate expanded at a solid pace and lending activity picked up moderately.

Brianna Gutierrez, Marketing and Planning Associate

 

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