After Bernanke gave us his thoughts, the Beige Book says little new. Of the 12 districts, 11 said “economic activity increased somewhat” with St. Louis the only one who “reported softened economic conditions.” “Districts generally reported increases in retail sales and vehicle sales…Tourism spending was up in a # of districts…Reports on the services sector were generally mixed…Mfr’g activity increased in all Districts except St. Louis, and new orders were up…Many Districts reported increased activity in housing markets from low levels…CRE activity remained weak in most districts.” Banking and finance was mixed “as loan volumes and credit quality decreased…While labor markets generally remained weak, some hiring activity was evident, particularly for temp staff…Retail prices generally remained level, but some input prices increased.”
