Fed Beige Book: Econ Still Lackluster In Mar, Early Apr

Dow Jones Newswires | April 23, 2003 | Rebecca Christie

[Starwind]

Fyi...

[Coop]

-Oil prices down.
-Dow up ~1000 points over last month
-Companies on average meeting/beating estimates on quarterly reports.
-Military personnel returning from war to impact local economies.
-Anxiety over war removed and over terrorism lessened.
-USAir and Kmart emerge from bankruptcy.

I'd say there's a decent amount of positive news concerning the economy.

[Steven W.]

this must have gotten you really excited!

[onehipdad]

FoxNews Financial reporters absolutely giddy last night, sent me off to check my 401K - up 4.2% from Fri.

WOO-HOO!!!

[Tauzero]

Why would anyone believe anything from Reuters?

Oh, wait a minute...

[Coop]

Good to hear. Perhaps my 201K is on its way back to being a 301K. (And no, I'm not talking dollar amounts here!)

[Starwind]

Beige Book -4: Some Price Pressures, But No Inflation



Even as labor markets remain soft, layoffs in some districts are moderating and some districts reported greater demand for temporary labor, the report said.

The Cleveland and Kansas City districts reported fewer plans for staff reductions, while New York, Atlanta and Dallas reported stronger demand for temporary workers.

Several districts reported a lack of upward pressure on wages, but firms continue to note "substantial" increases in the costs of health care and insurance, the Fed said.

Many districts reported price pressures in specific segments of their economies, but inflation remains subdued, the Fed said. Most manufacturers held the prices of their goods steady despite substantial price increases in energy-related inputs.

The manufacturing sector remains weak, with nine of the 12 Fed districts reporting slower manufacturing activity.

"Still, pockets of improvement in the industry were noted by more than half the districts in this report," the Fed said.

The New York and Philadelphia districts seemed optimistic that manufacturing activity would improve somewhat within the next six months, the Fed said.

As for the housing market, homebuilding activity remained strong in all districts, the Fed said. However, some homebuilders suggested there was a "slight softening" in their markets. Commercial real estate is still in a "slump," the Fed said.

Mortgage lending, buoyed by refinancing activity, remained strong and a few districts noted some improvement in commercial loan demand. Office vacancy rates remained on the rise in most districts, the Fed said. .

-By Deborah Lagomarsino, Dow Jones Newswires; 202-862-9255; deborah.lagomarsino@dowjones.com .

(END) Dow Jones Newswires

04-23-03 1503ET- - 03 03 PM EDT 04-23-03

[Lazamataz]

Please increase the labor rolls by ONE. Thank you.

[Lazamataz]

I'd say there's a decent amount of positive news concerning the economy.

According to those who Say Nay, we are still so totally xcrewed.... ;^)

[Starwind]

Please increase the labor rolls by ONE. Thank you.

I assume that means you got a new job...congrats and best wishes. All the more to entertain with.

[Coop]

According to those who Say Nay, we are still so totally xcrewed.... ;^)

Rumor has it that some of these financial experts were up until very recently employed as military analysts. :-)

[Coop]

Entertain women? No sweat!

All I have to do is enter a room and the ladies start laughing.

[Lazamataz]

I assume that means you got a new job...congrats and best wishes. All the more to entertain with.

Yeah. I plan on singlehandedly revitalizing the economy. That's right. Me. One person. I will rescue Murrica.

And I can even afford to send some money to Free Republic

(and I will now that Free Republic has stopped jumping all over people who might criticize Bush a little)

[Lazamataz]

Rumor has it that some of these financial experts were up until very recently employed as military analysts. :-)

LOL! Probably on Al Jazeera.... I'm CERTAIN one of these Naysayers is really Baghdad Bob.....

[Black Agnes]

So when are we going to hear the patter of little lazlet feet?

[Lazamataz]

By the way, what's with the extra H in the city name hBhahghdhahdh?

[expat_panama]

Coop, you are right on the money. The economy is so much better than it was than during the 'prosperity' of the late '90's, but the lib press wants it to look bad. This press release about the Beige Book whines and moans but is short on hard numbers. The facts are that unemployment, gdp growth, deficit as a gdp-percent, stock prices, and income growth-- they’re all in good shape. The press used to check these figures before they talked about boom or bust; now the press just says if the pres is republican than it’s a depression – end of discussion.

[Lazamataz]

So when are we going to hear the patter of little lazlet feet?

NEVER! I might consider patter of lazlet PAWS!

[SierraWasp]

"I will rescue Murrica."

Wull GOOD!!! Murrica shore needs it!!!

You have been missed by this member of the bored!!!

Welcum back, you Born Again Taxpayer!!!

As you can see... my addiction to adamant exclamation has worsend!!! (grin)