Beige Book highlights.
- Wage pressures were moderate and limited largely to workers in skilled occupations
- Economic activity continued to expands across most regions
- Strong USD hurting exports for some companies
- Payrolls stable or expanded in districts, hiring broad
- Consumer spending rose in most districts, contacts optimistic
- Banking conditions were mostly positive
- Oil and gas producers in certain districts anticipate cuts in capex
- Home sales increased in most districts.
The Beige Book was collected by the St Louis Fed this month and based on information collected on or before Feb 23.
The oil and gas headline seems to be putting a bid into oil but companies cutting capex isn't really a surprise. It's already happening.
