Beige Book: Modest-to-moderate econ growth

Comments Email

KANSAS CITY, Mo. (July 17, 2014) — All 12 Federal Reserve districts reported continuing economic growth in June through early July, according to the latest Beige Book issued by the Federal Reserve Bank of Kansas City.

New York, Chicago, Minneapolis, Dallas and San Francisco reported moderate economic expansion during the period, the report said, whereas the other seven districts reported modest growth. The pace of expansion in Boston and Richmond, Va., slowed slightly between the current and previous Beige Book periods, it said.

Overall consumer spending continued to grow, especially in auto sales, the report said. Auto sales were especially strong in Philadelphia, Richmond, Atlanta and San Francisco, it said. Tourism expanded at rates ranging from modest in Philadelphia to very strong in Boston.

Many districts reported gains in professional and business services, including healthcare consulting, engineering, advertising, accounting and technology, the report said. Transportation activity expanded across all districts, especially in trucking and rail services, it said. Demand was mixed in real estate, however.

The Beige Book is compiled every month by each of the Federal Reserve districts in rotation, and based on information received from businesses and other contacts outside the Federal Reserve, the Fed said.

More Polls>

TB Reader Poll

Previous | Published April 23, 2015

Do so-called “Religious Freedom” laws in place in some states impact how companies do business, and do you support them?

I support them and don’t think they have any effect on how I do business
51%
I don’t support them; they have a negative effect on businesses
5%
I think more research should be done about these laws’ impact before they’re enacted
16%
They’re horrible, an infringement on the rights of certain groups or individuals and shouldn’t be the law anywhere
28%

Explore the tire

Pirelli’s newest UHP tire – the P Zero™ All Season Plus