Feds Beige Book is being released

  • majority of districts have modern factory growth
  • labor markets tightened further across broad range
  • lending volumes grew modestly: some slowing noted
  • on balance, consumer spending held steadily
  • reports of tariff induced cost increases have spread
  • Tariffs remains a concern for manufacturers
  • labor markets tightened further across broad range
  • majority of districts had moderate factory growth
  • employment gains ebbed, due in part to workers shortages
  • several districts noted falling oil and fuel prices alongside rising freight costs
  • Tariff related costs increases have spread more broadly from manufacturers and contractors to retailers and restaurants
  • inputs costs rising faster than final goods prices
  • on balance prices rose at modest pace in most districts
  • in addition to raising wages, most districts saw firms enhancing nonwage benefits
  • Dallas, Philadelphia reported slower growth

The report tells paints a picture of tight labor and rising employment costs but modest or moderate economic growth.