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beige_book_pure_text_pre2000 | 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_pure_text_pre2000 | 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_pure_text_pre2000 | 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_pure_text_pre2000 | 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_pure_text_pre2000 | 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_pure_text_pre2000 | 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_pure_text_pre2000 | 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_pure_text_pre2000 | 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_pure_text_pre2000 | 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_pure_text_pre2000 | 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_pure_text_pre2000 | 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_pure_text_pre2000 | 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_pure_text_pre2000 | 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_pure_text_pre2000 | 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_pure_text_pre2000 | 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_pure_text_pre2000 | 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_pure_text_pre2000 | 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_pure_text_pre2000 | 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_pure_text_pre2000 | 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_pure_text_pre2000 | 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_pure_text_pre2000 | 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_pure_text_pre2000 | 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_pure_text_pre2000 | 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_pure_text_pre2000 | 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_pure_text_pre2000 | 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_pure_text_pre2000 | 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_pure_text_pre2000 | 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_pure_text_pre2000 | 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_pure_text_pre2000 | 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_pure_text_pre2000 | 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_pure_text_pre2000 | 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_pure_text_pre2000 | 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_pure_text_pre2000 | 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_pure_text_pre2000 | 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_pure_text_pre2000 | 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_pure_text_pre2000 | 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_pure_text_pre2000 | 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_pure_text_pre2000 | 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_pure_text_pre2000 | 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_pure_text_pre2000 | 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 |
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