canada & usa economic focus. u.s. district reports – the beige book – oct. 7 overall – the...
DESCRIPTION
U.S. District Reports – The Beige Book – Oct. 7 Labor markets are slowly improving, but still poor in terms of expansions – most hiring is done for replacement not new job generation. Mixed bag for financials as some report consumer and commercial loan growth. Credit spreads remain flat and delinquency rates are declining. Businesses are cautious about spending due to the sequester, government shutdown, and the Affordable Care Act. Growth across the board has been tepid except for autos, housing, and manufacturing. Slowing growth of freight volumes.TRANSCRIPT
CANADA & USA
Economic Focus
U.S. District Reports – The Beige Book – Oct. 7
Overall – the economy is growing “modestly” to “moderately” in most districts.
Several districts cite increasing growth and positive outlooks from the manufacturing sector.
Advertising and Consulting businesses are growing “robustly”.
Auto sales in most districts are strong and improving. Commercial and Residential R/E continues to
strengthen, although growth has stalled or slowed in several districts with homebuilders citing a less optimistic outlook.
Retailers are seeing modest revenue growth Prices are generally flat
U.S. District Reports – The Beige Book – Oct. 7
Labor markets are slowly improving, but still poor in terms of expansions – most hiring is done for replacement not new job generation.
Mixed bag for financials as some report consumer and commercial loan growth. Credit spreads remain flat and delinquency rates are declining.
Businesses are cautious about spending due to the sequester, government shutdown, and the Affordable Care Act.
Growth across the board has been tepid except for autos, housing, and manufacturing.
Slowing growth of freight volumes.
Positive District Reports
1st District (Boston) – Consulting and Advertising “robust revenue growth”, only firms hiring in the district.
9th District (Minneapolis) – Improvements and growth across the board. Consumer spending, tourism, manufacturing, energy, homebuilding.
Regional Economic Positives
U.S. Data
Canada’s Recap