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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: pater tenebrarum who wrote (76695)	3/7/2001 2:20:18 PM
From: oldirtybastard	Read Replies (1) \| Respond to of 436258

beige book is out, manufacturing down, inventories up, consumer spending up due to sales: federalreserve.gov Manufacturing Manufacturing activity decreased in the first two months of the year in all Districts except Boston and Richmond, where it rose modestly, and New York and San Francisco, where conditions varied among manufacturers. Falling output among makers of high-tech equipment and motor vehicles and parts was reported by Atlanta, Chicago, St. Louis, and Dallas. Declining output for electronic products and telecommunications equipment was reported by Minneapolis and Dallas. Production of industrial equipment and building materials was falling, according to reports from Philadelphia, Chicago, and Minneapolis. Some improvement was noted among manufacturers of pharmaceuticals and biotechnology in the Boston and San Francisco Districts. Philadelphia and San Francisco noted gains among manufacturers of food products. Atlanta reported that shipyards in the District had received increased orders for both military and civilian vessels. Several Reserve Banks reported high inventories among the manufacturers in their Districts. Cleveland and Chicago noted excess inventories of steel. Dallas and San Francisco reported high inventories of telecommunications equipment. Kansas City indicated that inventories were above plan for most manufacturers in the District. Manufacturing firms were reported to be trimming capital spending in Boston, Philadelphia, Kansas City, and San Francisco. Consumer Spending Retail sales rose modestly in a majority of Federal Reserve Districts in January and February compared with the same months last year. Increased sales of general merchandise were noted by New York, Philadelphia, Atlanta, Chicago, Minneapolis, Dallas, and San Francisco. Decreased sales were reported by Boston, Cleveland, Richmond, and Kansas City. Many District Banks noted that the sales gains were driven by extensive discounting in January to clear out winter merchandise. Sales varied among major lines of merchandise. Women's apparel sold well in New York, Cleveland, and Atlanta, but these same Districts and Kansas City indicated softness in sales of men's apparel. Cleveland reported increased sales of electronic items, and New York reported increased sales of home furnishings. In contrast, sales of home furnishings and housewares declined in Cleveland and Kansas City. Sales decreased for appliances in Chicago and jewelry in Atlanta. Auto sales generally declined in the first two months of this year compared with last year, although several Districts reported that sales have improved from December. Auto dealers' inventories were described as high throughout the nation, and manufacturers were extending incentives to boost sales.