March 7, 2014 |
The economy slipped amid the Philadelphia region's icy weather for most of January and February, the Federal Reserve said Wednesday as part of its national snapshot of business activity, which otherwise showed improvement for much of the country. In this region, many retailers realized losses through heavy discounting of winter inventory. On the bright side, Philadelphia auto dealers anticipate a release of pent-up demand when spring arrives, the Fed said. The bank's latest so-called Beige Book report follows a generally more positive report for December.
September 16, 2013 |
Moderation in all things seemed to be the theme of this month's Beige Book report for the Philadelphia region. While the Philly50 might be underwhelmed by the report's somewhat tepid view of the region's recovery - "moderate growth" was a recurring phrase - local firms might still take heart in a few hints of better days to come. Among the positives: Despite hesitancy and vacillation in other areas, consumers continued a recent buying spree when it comes to automobiles, particularly pickup trucks.
June 7, 2013 |
Economic activity in much of the nation increased to a moderate pace from April through mid-May, as reflected in the Federal Reserve's latest anecdotal survey of businesses, banks, and other parts of the private sector, released Wednesday. The exception was the region followed by the Federal Reserve Bank of Dallas, where economic growth was described as strong, led by manufacturing and retail sales. In the Philadelphia area, the growth rate picked up from the modest pace recorded over many months and noted in previous Beige Book reports.
October 11, 2012
Stronger housing markets, including existing-home sales in the Philadelphia region, helped boost economic growth at the end of the summer in nearly every region of the United States, according to a Federal Reserve survey released Wednesday. The Fed said growth improved in 10 of its 12 regional banking districts from mid-August through September, while leveling off in one region and slowing in another. Rising home sales helped lift home prices in most districts. The report, known formally as the Beige Book, also cited an increase in auto sales in most parts of the country.
August 30, 2012
The Federal Reserve said Wednesday that economic activity was continuing to expand gradually in July and early August across most regions and sectors of the U.S., according to a closely watched anecdotal survey of business and banking leaders. For the Philadelphia region, the Fed's so-called Beige Book said manufacturing activity was continuing a slow decline. Retail sales have grown somewhat faster than was the case at the time of the last Beige Book in mid-July, while auto sales have continued to increase.
October 19, 2011
Highlights from Wednesday's Federal Reserve report on the region's economy in September and early October. Retail: Retailers noted an increase in customer traffic in late September and early October, but many store owners were reluctant to boost inventories for the holiday season because of weak consumer confidence. Manufacturing: The factory sector continued to decline, but at a slower rate than during the summer. Since then, the outlook has improved, with one-third more firms expecting conditions to improve and one-third fewer expecting them to worsen.
December 2, 2010 |
The economy improved in most parts of the nation this fall, but Philadelphia was one of just two regions with mixed business conditions, the Federal Reserve said Wednesday. The Beige Book - a periodic survey of economic activity in the Fed's 12 districts - showed that business in the Philadelphia area varied across different industries from mid-October to mid-November. Local manufacturers, auto dealers, and other retailers generally reported improvement, but home builders and residential real estate agents "indicated that the recent sales trend has been downward," the Fed reported.
October 20, 2010
Highlights from Wednesday's Federal Reserve report, called the Beige Book , on the Philadelphia region's economy in September: Overall business activity currently remains mixed, while the outlook for the next six months "is positive, on balance, but not robust. " Manufacturers reported slight decreases in shipments of finished goods and in new orders. There was some strength, though, for makers of industrial machinery, food processors and producers of wood products. Retail sales were up modestly from a year ago, with customer traffic and discretionary spending rising somewhat.
January 17, 2008 |
Tim Bosse never did figure it out. In the five years he lived and worked in the Philadelphia area as an executive in a recruitment firm, he never understood why Philadelphians were always down in the dumps. Exhibit A: Twin findings from the Federal Reserve and a monthly survey by Bosse's firm, Hudson Highland Group Inc. Of the 12 metropolitan regions that Hudson surveys about worker confidence, Philadelphians have been among the most pessimistic in the nation, ranking only above San Francisco last month.
March 19, 1998 |
The U.S. economy is growing so vigorously that labor shortages are generating substantial wage demands and hampering production in much of the country, the Federal Reserve said yesterday in its regional economic survey. Given the strong economy, which normally raises fears that prices will increase, the Fed said, inflation is "eerily calm. " For the Philadelphia area, the central bank's March survey found, "business conditions . . . are mixed but positive overall. " The survey, called the beige book because of the color of its cover, also said Philadelphia manufacturers reported continued increases in shipments and orders.