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Fed’s Beige Book: Modest expansion seen in Colorado’s region
Denver Business Journal
The economy in Colorado and six neighboring states “continued to expand modestly in October and early November,” the U.S. Federal Reserve reported Wednesday in its latest “Beige Book” survey of the region’s business executives.
Reports from the eight of the 12 Federal Reserve Districts around the nation also showed modest improvement in economic conditions.
In Colorado and neighboring states that are part of the Fed’s 10th District, consumer retail sales increased “and were expected rise further,” the Fed said, but the travel and tourism sector remained weak.
Manufacturing activity also “grew moderately” during the period covered by the Beige Book, “with production, new orders, and exports rising since the last survey period.”
MORE: Fed official says slow recovery has begun
Residential real estate in the region “recovered further, while the commercial real estate market continued to deteriorate,” the Fed said.
It said energy activity “rose slightly, as higher prices boosted exploration for crude oil in particular.”
On the other hand, the region’s bankers “reported that loan demand weakened and loan quality declined, while “prices of finished goods and services declined modestly.”
The Fed’s 10th District is based in Kansas City. The district’s Beige Book is based on interviews with a sample of businesses representing key industries in each district.
The reports are anecdotal and do not contain statistics, but they are widely followed and help the Fed to set national economic policy.
The Fed’s 10th District includes Colorado, Kansas, Nebraska, Oklahoma and Wyoming as well as western Missouri and northern New Mexico.
Formally known as the “Summary of Commentary on Current Economic Conditions by Federal Reserve District,” the Beige Book is published eight times a year.
Click here for the full text of the latest 10th District Beige Book.
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