Fed's June Beige Book Now Available Posted by Association of Vermont Credit Unions on 2:16 PM

The Federal Reserve has released its latest Beige Book, which based on information collected on or before July 1, 2016 and summarizes current economic conditions.  The report, divided into Federal Reserve Districts, reveals that economic activity continued to expand at a modest pace across most of the 12 regions from mid-May through the end of June.

Labor market conditions remained stable as employment continued to grow modestly since the previous report and wage pressures remained modest to moderate. Price pressures remained slight. Consumer spending was generally positive but with some signs of softening. Manufacturing activity was mixed but generally improved across Districts. Real estate activity continued to strengthen, and banks reported overall increases in loan demand. Agricultural activity was mixed but generally improving. The natural resources and energy sector has remained weak.

The outlook was generally positive across broad segments of the economy including retail sales, manufacturing, and real estate. Districts reporting on overall growth expect it to remain modest.

In the Boston District, modest gains in economic activity were on balance. Growth in retail sales is nil to modest.  Manufacturers are mostly positive.  Software and IT firms report robust growth in sales from a year earlier. Single-family home sales increased in all states in the District amid robust buyer demand but low inventory continues to weigh on the residential market.

For more detailed information, please visit June Beige Book.