Contents of the Federal Reserve's July Beige Book seem like they could have been recycled from other months, except maybe a little worse.
In general, there was a "moderate pace of growth" in seven of the 12 districts. The other five noted flat or declining activity — an increase of three over last month's report, so slightly worse. Wages and prices rose moderately, and employment was widely flat or up slightly. Some districts said manufacturing employment had declined because of slowdowns in new orders. Labor turnover was lower, reducing the need to find new employees.
As for commercial real estate lending, most banks reported only slight changes, if any.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
