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beige_book | 1,970 | This initial report of economic conditions in the 12 Federal Reserve Districts is based on information gathered from directors of the Reserve Banks, conversations with local bankers, businessmen and economists, regular monthly surveys of manufacturing and trade industries conducted by some of the Reserve Banks,... | 395 |
beige_book | 1,970 | Comments on economic conditions in the twelve Federal Reserve Districts indicate that in most Districts bankers and businessmen find economic activity has been weakening, and they generally expected the decline will continue. In virtually all Districts, unemployment is rising, and in many, labor markets are eas... | 1,238 |
beige_book | 1,970 | Current comment by businessmen and bankers, as reported by the 12 Reserve Banks, continues to emphasize weakness in overall business activity and to focus on such problems as unemployment, rising costs, declining profits, inadequate liquidity, and excessive inventories. In most Districts, however, the general t... | 1,067 |
beige_book | 1,970 | Opinions expressed by bankers and businessmen in the twelve Federal Reserve Districts indicate that the more pessimistic economic outlook which had emerged last month was currently still in evidence, with some brighter spots—notably in residential housing—appearing here and there. Economic recovery was generall... | 1,201 |
beige_book | 1,970 | The reports in this Redbook are more optimistic than in earlier months. The consensus of directors, businessmen, bankers, and economists is that the economy will experience below potential growth in real output in the second half of 1970 and early 1971. There is general agreement that wage demands are not dimin... | 396 |
beige_book | 1,970 | Current comment by businessmen and bankers, as reported by the twelve Reserve Banks, is decidedly more pessimistic than that of a month ago. The pervasive dampening effect of the General Motors strike is evident in most parts of the country. Employment continues to weaken, or at best, to show sluggish growth, i... | 918 |
beige_book | 1,970 | The predominant view of businessmen and bankers in the twelve Federal Reserve Districts is that the economy has not yet returned to a faster rate of expansion. There are both elements of support for further expansion and of weakness. For example, consumer spending is being maintained in most areas, yet the rate... | 943 |
beige_book | 1,970 | The consensus of the reports by the twelve Federal Reserve Banks is that the economy is in a sidewise movement with few signs of strength in any sector. Businessmen have generally become more cautious with respect to plans for the remaining months of the year. Instead of an early vigorous recovery as envisaged ... | 660 |
beige_book | 1,971 | The general tenor of the twelve Red Book reports may he summed up as follows: a present business situation that is generating little enthusiasm; an emphasis on uncertainty, perhaps even greater than usual; and a future viewed with some optimism. This generalization alone of course conceals a range of views, esp... | 1,313 |
beige_book | 1,971 | The economic picture presented by the Red Book reports is that the price freeze is working, but that uncertainties concerning Phase II are hampering business planning. Consumers are spending more freely, especially on durables, but demand for most producer goods remains very sluggish, and inventory investment p... | 693 |
beige_book | 1,971 | The overall impression that emerges from the Districts Red Book reports is that the economic outlook has taken distinct, albeit moderate, turn for the better over the past month. Among the most encouraging developments is the evidence emanating from most parts of the country that the long awaited rise in consum... | 1,052 |
beige_book | 1,971 | Judging from the District reports, the effect of the new economic program thus far has been to improve the economic outlook. Spending and production, as yet apparently largely unaffected by the new program, continue a moderate expansion. Strength in consumer spending is expected to continue. There is no sign of... | 812 |
beige_book | 1,971 | There is substantial agreement among bankers, businessmen, and economists that the recovery now underway is of moderate proportions and is clearly not strong enough to have a significant impact on the employment-unemployment situation over the near term. Despite the persistence of underlying slack in the econom... | 706 |
beige_book | 1,971 | While this month's district Redbook reports are conflicting on several points, their general tenor must be judged pessimistic. Nearly half the districts reported increasing signs of recovery, but an equal number characterized business and employment conditions as unchanged or deteriorating from January-February... | 727 |
beige_book | 1,971 | Four major impressions emerge from this month's Red Book reports. First, inflationary expectations remain strong and, in some areas, may be strengthening. Second, demand for business and mortgage loans has firmed, and additional interest rate increases are anticipated. Third, several reports characterize the re... | 931 |
beige_book | 1,971 | The language used in the Reserve Bank reports, to summarize the characterizations of the current economic situation by their various sources of information, falls within a rather narrow range. The present recovery is described as weak (Boston), sluggish (Cleveland), sustainable but sluggish (Philadelphia), and ... | 915 |
beige_book | 1,971 | According to the Reserve banks' reports, the economic recovery still appears to be proceeding quite slowly in most districts, with the industrial sector particularly sluggish. Strikes and strike-related effects have further dampened economic activity in some districts. The slow pace of the expansion has not yet... | 1,086 |
beige_book | 1,971 | The latest Red Book reports from the District Banks are on the whole more bullish regarding the economic outlook than the reports of recent months. The President's new economic program has been, in general, very well received throughout the country. To be sure, with the possible exception of the temporary "free... | 847 |
beige_book | 1,971 | Reports from the twelve Federal Reserve Districts indicate that there has been no material change in economic conditions. Output and employment appear to have leveled off after recent declines and, despite some optimism that a recovery will begin later in the year, the overall impression is that economic activi... | 961 |
beige_book | 1,971 | Business conditions in the nation as viewed by businessmen and other observers of economic conditions in the twelve Federal Reserve Districts were slightly improved in late December and early January compared with a month earlier. Retailers report a sizable late spurt in Christmas sales, pushing the dollar volu... | 979 |
beige_book | 1,972 | In general, the District banks report continuing business expansion and a good measure of optimism about future prospects. With few exceptions, retail sales are reportedly doing well. Home building nationwide has fallen back from peaks earlier in the year, but remains very strong in selected areas. Commercial b... | 744 |
beige_book | 1,972 | Comments from the District banks uniformly emphasize the strong pace of the current economic expansion. Near-term prospects for both consumer spending and business investment continue to be excellent. Strong income gains in the agricultural sector are bolstering retail trade and outlays for farm machinery and e... | 695 |
beige_book | 1,972 | Moderate recovery, based mainly on strength in residential construction and some consumer outlays, continues to epitomize the course of the economy. Optimism prevails despite widespread slack in employment and business loan demand. The range of response from Reserve Banks is small. At best, the economy is expan... | 1,066 |
beige_book | 1,972 | On the whole, District banks report that the general business climate continues to improve. Industrial activity is increasing in most Districts, but gains on the employment front are less widespread. The retail sector shows signs of improvement in several Districts both for general items and automobiles. Capita... | 1,029 |
beige_book | 1,972 | According to bank reports, economic activity is improving and is expected to remain strong. Retail sales have been increasing and retailers expect Christmas spending to be heavy. Order backlogs are swelling in several areas as the tempo of manufacturing activity picks up; inventory building is also anticipated. Several... | 796 |
beige_book | 1,972 | Reports from the twelve districts indicate continued strengthening in business activity and greater optimism in general. Consumer spending, which has continued strong in most regions, seems to be the main source of strength. Greater output in industries closely related to the provision of final goods, especiall... | 1,116 |
beige_book | 1,972 | Overall, District reports reveal continued economic expansion in most sectors of the economy, although there are indications of slowing in certain activities. In the forefront, there is continued concern about inflation, the wage-price controls, and the performance of profits. Consumer sentiment and spending ap... | 746 |
beige_book | 1,972 | Reports from the twelve Districts indicate that economic activity continues to strengthen and the outlook of most businessmen and bankers is optimistic. Consumer spending, especially for tourism, recreational vehicles, and autos, appears to be a major source of strength. Capital spending and plans for future ou... | 1,234 |
beige_book | 1,972 | Overall, district banks report a quickening economic pace and an increasing degree of optimism about the business expansion. Industrial activity is continuing up on a wide front. However, little or no change in unemployment is reported by most districts. Retail sales are up substantially, with automobile sales ... | 879 |
beige_book | 1,972 | Economic activity around the Nation is maintaining its forward momentum according to reports from the twelve Districts. And, the outlook for 1973 ranges from optimistic in several Districts to "almost universally ebullient" in the Seventh District. Orders, inventories, and shipments of manufacturers were report... | 1,149 |
beige_book | 1,972 | The overall impression that emerges from the individual District Red Book reports is one of continuing improvement in the economic outlook. Consumer spending is apparently on the rise, with indications of heightened interest in nonessential or postponable goods and in both big ticket and higher priced items. Ne... | 1,117 |
beige_book | 1,973 | On the whole the economy continues strong. Manufacturing activity is rising in most areas and is expected to continue upward. Labor markets are tightening and some labor shortages are reported. Inventory investment is reported to be rising only slightly, but plant and equipment spending is increasing as some manufactur... | 851 |
beige_book | 1,973 | This month's District Red Book reports, on balance, describes the current and prospective pace of business activity as very strong, in some cases reaching boom proportions. Consumer and business investment spending showed impressive strength, and construction remained at a high level. Employment was rising. On ... | 800 |
beige_book | 1,973 | Energy shortages are beginning to cause considerable concern, but as yet the pace of economic activity continues to be strong. Retailers in most Districts anticipate good Christmas sales, and agricultural earnings continue to climb. Capital expenditures are another source of strength, and although considerable ... | 867 |
beige_book | 1,973 | The overall impression conveyed by the District Banks' reports is that the economic expansion of 1972 continued undiminished at the turn of the year and was perhaps gathering additional momentum. Retailers generally enjoyed a very good Christmas season, and many were reported to be quite optimistic about sales ... | 783 |
beige_book | 1,973 | This month's district Red Book reports indicate that the current vigorous expansion is increasingly straining capacity. Raw material shortages, lengthening delivery times and difficulties in finding skilled labor are emerging. Inflation is again the major economic concern with recent price increases rekindling ... | 922 |
beige_book | 1,973 | The overall impression conveyed by the District Banks' August Red Book reports is that business activity continues at a high level, but with some scattered indications of a tapering off in the rate of growth. Most Banks report a sustained high level of consumer spending, in part related to expectations of furth... | 830 |
beige_book | 1,973 | In May, as in April, the 12 Redbook reports paint a picture of an overheated economy that retains strong upward momentum. Concern over inflation and the impact that increases in the cost of living will have on union negotiations is reported by several banks. Shortages of materials and manpower are widespread an... | 777 |
beige_book | 1,973 | Reports by the Reserve Banks indicate that the economy has continued to expand vigorously in recent weeks. However, the rate of expansion has apparently slowed in the residential construction industry, and a number of Banks reported expectations of a more moderate rate of expansion in the overall economy in the sec... | 1,077 |
beige_book | 1,973 | Economic activity remains strong across the nation. Consumer spending is consistently described as continuing to grow in each District. A high level of activity is also reported in most manufacturing areas, as order backlogs keep production at full capacity in most industries. In spite of some signs of weakness... | 971 |
beige_book | 1,973 | The Redbook reports describe a very strong economy with widespread shortages of manpower and materials and substantial upward pressures on prices. Disintermediation at S&Ls, usury rates, and generally tight money have drastically reduced the availability of mortgage funds, with the result that residential build... | 1,235 |
beige_book | 1,973 | Reports of sustained current strength continue to coexist with expectations of a future slowdown. Consumer spending and the demand for consumer loans have maintained their recent pace of growth. Business investment and foreign demand are buoyant and are expected to remain strong into the future. Only residentia... | 810 |
beige_book | 1,973 | While the reports of the Federal Reserve Banks indicate that the pace of economic activity may have slowed somewhat in recent weeks, the current situation is highlighted by growing demand pressures, material shortages, problems of inadequate capacity, and increased rationing of raw and semi-finished products by... | 954 |
beige_book | 1,974 | Latest Redbook comment suggests that the recent business slowdown has bottomed out and that the economy may now be in a mild, though fragile, recovery. Heavy demands f or capital goods appear to be the main element undergirding the current level of activity. Fuel shortages are reported to have eased substantial... | 1,118 |
beige_book | 1,974 | Notwithstanding the pervasive concern over the energy situation, District reports on balance point to a sustained high level of industrial activity as strong demand-with the exception of some consumer goods-generally continues in evidence. Weak spots so far by and large have been concentrated in regular or larg... | 1,116 |
beige_book | 1,974 | The general impression conveyed by this month's Red Book is that the worst of the economic slowdown appears to be over, and that the economic outlook has improved. Directors throughout the System, along with other businessmen and bankers, are generally more optimistic (or less pessimistic) than a month or two a... | 1,005 |
beige_book | 1,974 | District reports continue to suggest that the cross-currents which have characterized the economic outlook in the recent past remained in evidence in early March. While assessments were mixed, the overall impression which emerged was that of a still generally robust economy, with some areas of weakness in busin... | 865 |
beige_book | 1,974 | District reports describe a generally weakening economy, punctuated by booming conditions in agriculture and the capital goods industries. Shortages of materials are hampering production and leading to some hoarding of supplies. The impact of the truckers' strike in most Districts appears to have been mainly li... | 729 |
beige_book | 1,974 | On balance this month's comments indicate a further slowing in overall economic activity and more widespread pessimism regarding the near-term outlook. Residential construction remains in a depressed state throughout most of the nation. The situation in the housing sector is causing a marked decline in consumer... | 975 |
beige_book | 1,974 | Though some areas remain strong, economic weakness appeared to be spreading, even before the coal strike began. The consensus is a deterioration in economic conditions since last month's reports, with the earliest chances for a recovery in mid-1975 and then only a mild upturn. The drop in residential constructi... | 1,206 |
beige_book | 1,974 | The news of spreading weakness in the economy has not changed much from last month, although a somewhat firmer consensus on the side of pessimism emerges, if only because of the confirming character of this round of reports. Most Districts tell of further declines in consumer demand, softening employment, and i... | 1,078 |
beige_book | 1,974 | The general thrust of this month's commentaries is that expectations concerning the near-term outlook for business have deteriorated considerably. Prospects for dampening inflation are viewed with various degrees of skepticism and pessimism; some businessmen fear wage-price controls. District reports emphasize ... | 820 |
beige_book | 1,974 | "Moderate economic recovery" capsules the views of most Red Book reports this month. Inflation and materials shortages once again seem to be major items of concern. While some reports expect a subsiding of inflationary pressures toward year's end, others expect these pressures to remain severe throughout the ye... | 1,029 |
beige_book | 1,974 | District reports present a mixed picture, with elements of weakness generally overshadowing those of strength. There are scattered indications that shortages and bottlenecks are breaking up in some sectors, although shortages of certain industrial goods remain critical. Many firms have been critically reexamini... | 808 |
beige_book | 1,974 | Although it may now be less appropriate than earlier this year to characterize the U.S. economy as one of general materials scarcity, reports from the Reserve Banks continue to emphasize this problem. A fair generalization may be that shortages of materials and components are still generally severe, although th... | 1,342 |
beige_book | 1,975 | Business conditions showed signs of improvement in most parts of the country, according to this month's Redbook reports. The rise in unemployment appeared to have slowed, but joblessness was not expected to decline soon. Retail sales revived noticeably in most districts, led by seasonal merchandise and ... | 900 |
beige_book | 1,975 | The general tone of this month's REDBOOK reports is somewhat less confident. Virtually all districts note improvement in conditions, but there are frequent mentions of unsatisfactory gains. Retail sales have increased, but mainly in soft goods with consumers showing continued caution on big-ticket purchases. In... | 937 |
beige_book | 1,975 | The economy has continued to recover, according to this month's Redbook reports, but the recovery has been uneven due to a persistent sluggishness in several regions and industries. Retail sales improved this fall, and retailers expect a good holiday season. With some exceptions, manufacturing activity has impr... | 925 |
beige_book | 1,975 | The economy continues to recover but at a lackluster pace. Stepped up consumer spending is providing the primary stimulus for continued growth. Retail sales have improved, and Christmas buying is expected to be strong. In addition, new car sales are well above year-earlier levels. Industrial production has leve... | 971 |
beige_book | 1,975 | This month's Redbook reports provide several indications of improvements in activity, but many sectors are still declining. A widespread belief exists that the recession is "bottoming out," and that a turn for the better is near at hand. The words "optimism" and "optimistic" appear frequently. But an earl... | 991 |
beige_book | 1,975 | The general thrust of this month's comments is that the economic situation has deteriorated and further weakening is in store. Unemployment seems likely to rise again in February, on the basis of widespread reports of more layoffs since early January. Slackening conditions in the labor market, however, ... | 914 |
beige_book | 1,975 | The general impression given by this month's Redbook reports is some moderation in the rate of decline in economic activity. While no District reports suggest that a general economic upswing is "just around the corner", with some exceptions the March reports indicate that the deepening pessimism that ha... | 1,056 |
beige_book | 1,975 | This month, reports from the twelve District Banks show faint signs of optimism—not that the recession has already bottomed out, but that it is approaching bottom. The unemployment picture is grim, and there is no quick solution in sight. But inflation is abating. Retail sales are weak, and the manufact... | 1,145 |
beige_book | 1,975 | District "Red Book" reports for mid-January generally reflect the accentuation in most parts of the country of the pronounced deterioration of the economy in the recent past suggested by nationwide economic indicators. Retail sales in most areas over the holiday season were only equal or barely above la... | 1,179 |
beige_book | 1,975 | This month's Red Book District reports again suggest that the recession has come to an end and that recovery is under way. Assessments of the strength of the upswing vary, however. The majority of the respondents expect a gradual pickup in business activity. A somewhat more optimistic tone, however, emerges fro... | 974 |
beige_book | 1,975 | The decline in economic activity is over, but recovery will likely be protracted, according to this month's Redbook reports. Consumer spending continues to firm in most districts, on the strength of sales of nondurable goods. While retailers have managed to work off inventories to comfortable levels, some inven... | 929 |
beige_book | 1,975 | The tone of the Redbook this month can be described as "cautiously optimistic." Virtually every District reports that its economic slide has bottomed out and its economy is moving in a positive direction. The recovery process described by Boston and Chicago is still quite weak, while the rebound in Minneapolis ... | 988 |
beige_book | 1,976 | District reports generally suggest some recent moderation in the pace of overall economic expansion as well as in the rate of inflation. For the most part the manufacturing sector continues to expand but at what is characterized as a sluggish, modest, or less vigorous rate. Retail sales have been errati... | 1,072 |
beige_book | 1,976 | Strong retail sales are the key to a generally optimistic outlook for the Redbook this month. Nearly every District focuses attention on the strength of consumer demand as an indication that the economy may be regaining some of the momentum it lost in the latter months of 1975. The picture is still far from ros... | 1,231 |
beige_book | 1,976 | Continuing attenuation of the economic recovery is evidenced in the past month's reports. Despite some recent increases in soft goods sales, merchants generally expect holiday gains no greater than a normal seasonal advance. There is some feeling that the recent boost may be the result of abnormally col... | 1,217 |
beige_book | 1,976 | Although many Districts report that activity over the past month has been sluggish or flat, almost as many report that the lull in activity is over and an uptrend has been resumed. Consumer spending is anticipated to be 8 to 10 percent higher this Christmas season than last although sales will not be th... | 937 |
beige_book | 1,976 | Continued moderation in the pace of economic activity highlights reports from most Districts. Several Districts report spurts in retail sales in August, but few report signs of strengthening in manufacturing and housing. The recovery in capital goods continues at a gradual and uneven pace, and the outlo... | 959 |
beige_book | 1,976 | Continuing expansion at uneven rates characterizes this month's economic reports. Although capacity utilization is high in several major industries, shortages of raw materials, components, and finished goods remain the exception. The pace of consumer spending slackened somewhat in most areas in late Apr... | 1,168 |
beige_book | 1,976 | The prospect is for a sustained economic expansion in the last half of the year. Although the majority of the Districts report that activity moderated in the second quarter, the outlook for the rest of the year is optimistic. Retail sales, although somewhat weaker this quarter, are expected to pick up. Manufact... | 947 |
beige_book | 1,976 | This month's District reports suggest that the economic advance has continued at about the moderate second-quarter rate. Automobile sales remain strong, but department store sales softened in July. Retailers are still generally optimistic about the sales outlook, however. Manufacturing activity appea... | 1,001 |
beige_book | 1,976 | This month's Red Book reports suggest that economic activity is continuing to expand, but that the upward impetus is narrowly based. The most optimistic sector is retail trade, where Christmas sales as well as automobile sales in several Districts were stronger than expected. However, only a modest recovery in ... | 1,292 |
beige_book | 1,976 | The recent surge in consumer spending is broadly based. Auto sales and "big ticket" items are reported to be selling well and exceeding expectations, according to nearly all District reports. New York describes the consumer as being less price conscious. Atlanta reports tourism is "booming" on the east ... | 892 |
beige_book | 1,976 | The picture that emerges from virtually all of this month's District reports is one of a resumption of a vigorous upswing in the economy following its pause late last year. Strong retail sales, including autos and other durable goods as well as nondurables, are reported by most Districts. Business inventories w... | 950 |
beige_book | 1,976 | This month's District reports suggest that the overall recovery is continuing at about the same rate as during recent months. Sales of consumer goods remain generally strong throughout the country, although there are scattered indications of some moderation of consumer demand. Manufacturing activity appears to ... | 984 |
beige_book | 1,977 | Weather dominated the news in most Districts' reports. Cold weather drained natural gas supplies and resulted in widespread layoffs in some Districts, especially Atlanta, Philadelphia, Cleveland, Chicago, and New York and extensive crop damage in Florida. Nevertheless, the overall opinion seems to be th... | 1,365 |
beige_book | 1,977 | This month's REDBOOK reports suggest an economy still expanding, but at a slower pace than in the first half of the year. Various districts note a contrast between business caution and consumer confidence. Progress is uneven, with softness noted in demand for steel, nonferrous metals, farm equipment, and textil... | 1,151 |
beige_book | 1,977 | The district bank reports indicate that the economy is still expanding; however, the pattern is mixed. A few banks observed no change from the previous month. Consumer spending continues up. Inventory levels are in line with expected sales except in a few instances. Overall credit demands are rising. So... | 890 |
beige_book | 1,977 | Business continues to improve, if somewhat unevenly across the nation, according to District reports, and businessmen remain optimistic that economic activity will expand further in the year ahead. Respondents in every District expect at least satisfactory growth in retail sales this holiday season, although sa... | 1,080 |
beige_book | 1,977 | The firmer tone asserted in last month's REDBOOK was generally confirmed by developments in the recent period. Eleven districts reported further increases in output, employment, and new orders. Cleveland and Philadelphia reported a slower rate of rise, however. Minneapolis found "little change" in nonagricultur... | 995 |
beige_book | 1,977 | The economy continues on a firm upward path, according to this month's district comments. Retail sales in general remain good, with the sales of autos and other durables showing particular strength. Factory orders continue to rise, and a building up of business inventories could well be underway. At the... | 1,209 |
beige_book | 1,977 | The overall impression that emerges from this month's district reports is that the economy is recovering smartly from the disruptions caused by the bitter weather earlier in the year. Production has rebounded quickly, and laid off workers have returned to the job with the onset of more temperate... | 1,046 |
beige_book | 1,977 | The recovery has been solidly reestablished, according to this month's district reports. Manufacturing activity has increased, retail sales are generally good, inventories appear to be at satisfactory levels and there are signs that capital spending is picking up. Deposit inflows continue to be strong, particul... | 1,246 |
beige_book | 1,977 | Consumer spending was generally strong during August. Solid gains in department store sales were achieved in Boston, New York, Atlanta, Chicago, Cleveland, Minneapolis, and Dallas, although Philadelphia merchants describe sales as below expectations and St. Louis reports only modest gains. Philadelphia ... | 1,078 |
beige_book | 1,977 | The rate of growth in business activity may have slowed recently according to this month's District reports, but the trend continues moderately upward. Consumer spending continues to increase; however, demand for soft goods was reported to be weak in some of the Districts. Inventories are generally bein... | 1,272 |
beige_book | 1,977 | Most districts report continued improvement in economic activity and a generally optimistic outlook for business. Consumer durables are still selling well. Manufacturing and residential construction remain strong. Doubts persist regarding the likely paths of business investment in inventories and in pla... | 980 |
beige_book | 1,977 | This month's District reports strongly suggest that the "pause" in the current recovery has ended and that the pace of business activity is regaining momentum. Virtually all reports indicate some improvement in economic activity. Retailers generally enjoyed a good to excellent Christmas season, with sales stren... | 1,274 |
beige_book | 1,978 | All Districts report that the economy has strengthened further in recent weeks, but inflation is a dominant concern. Consumer spending is mixed, with cold weather dampening sales of seasonal merchandise although car and hard goods sales are generally strong. Further improvement in manufacturing activity... | 960 |
beige_book | 1,978 | The overall impression that emerges from this month's Current Economic Comments is one of no significant change over the past month in the business and financial situation. According to these reports, retailers in most Districts enjoyed a good to excellent Christmas selling season, although the sale of ... | 1,122 |
beige_book | 1,978 | Reports from the twelve District Banks this month unanimously indicate an expanding economy. The effects of a severe winter appear to have been largely overcome, and economic activity in the regions affected by the now-settled coal strike has returned to normal levels. Retail sales are generally strong,... | 820 |
beige_book | 1,978 | The overall impression that emerges from this month's district comments is that while the severe weather in many parts of the country and, to a more limited extent, the spreading effects of the coal strike, have somewhat weakened the economy's momentum, the interruption is likely to be only temporary. T... | 1,282 |
beige_book | 1,978 | Severe weather conditions and the potential effects of the coal strike dominate this month's Current Economic Comments. Because of unfavorable weather, retail sales throughout much of the country were below expectations. However, respondents in most districts believe that consumer demand is basically st... | 1,677 |
beige_book | 1,978 | Reports from the twelve District Banks this month indicate continued expansion of the national economy but at a moderate pace. Retail sales growth continues in most Districts but at varied rates. Expanding manufacturing activity and generally strong loan demand continue to be major sources of strength t... | 654 |
beige_book | 1,978 | Business conditions in most districts continue to improve, but more signs of weakness are cropping up. Most businessmen look for a slowdown in economic activity next year. Christmas sales are slightly ahead of a year ago. Production in manufacturing continues to advance slowly; no significant shortages,... | 881 |
beige_book | 1,978 | Generally good economic conditions prevail across most of the nation, although there is notable uncertainty over economic prospects. Retail sales have been fairly steady overall—consumer durables have been selling somewhat better than nondurables. Agricultural and industrial production has been strong. ... | 939 |
beige_book | 1,978 | The tone of District reports is one of high employment of resources, accompanied by high operating rates in basic industries, shortages and lengthened deliveries, and generally tight labor markets. Upward price pressures remain intense. There is also an undertone of uncertainty and, indeed, concern over... | 1,191 |
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