Bill’s commentary:
“I would question that it is only half the country?”
“They say half the country.” JB
Six of the 12 Federal Reserve districts reported little or no change in economic activity through the end of February, according to the Federal Reserve latest Beige Book survey of conditions.
The other six districts indicated growth expanded at a modest pace, the report said.
As a result, nationwide activity increased only slightly, the Fed report concluded.
That fits with the forecast of a slight 0.4% decline in first quarter GDP from S&P Global Market Intelligence, a leading forecasting firm. The government data won’t be released until the end of April.
The Beige Book is a collection of anecdotal data designed to give central bank officials a feel for conditions on the ground as they meet to plot interest-rate policy later this month.
It is a companion to the secret Green Book of economic data that Fed officials receive from the Fed staff as they prepare for their monetary policy discussions. These reports are only made public after five years.
BillHolter.com 