The Summary of Commentary on Current Economic Conditions by Federal Reserve District plans to release its September Beige Book Wednesday. The book is designed to supplement the data and analyses already used by Federal Reserve economists to access economic conditions in 12 Federal Reserve Districts (including Dallas, San Francisco, New York etc.) The book is released eight times a year and produced roughly two weeks before the monetary policy meetings of the Federal Open Market Committee (FOMC).
By enabling the comparison of economic conditions in different regions, the Federal Reserve District can create an outlook for the national economy, creating an opportunity to characterize dynamics and identify emerging trends that aren’t readily apparent. This data is collected from reports by Bank and Branch directors, phone and in-person interviews, and online questionnaires completed by businesses, economists, market experts, and others.
In the previous book release in August, business and consumer loan demand grew slightly with a number of Districts reporting banks and non-banks becoming more competitive. Residential construction overall increased slightly, but low inventories of homes for sale continued to influence residential real estate activity.
The September Beige Book will be released Wednesday at 2:00 p.m. EST.
This Week’s Schedule:
Housing Market Index, Wednesday, 10 a.m. EST
MBA Mortgage Applications, Wednesday, 7 a.m. EST