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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: ild who wrote (63697)	6/14/2006 2:08:26 PM
From: ild	Read Replies (1) \| Respond to of 110194

DJ Fed Beige Book: Econ Grows, But Some Signs Of Slowing DJ Beige Book: One-Third Of Districts Have Moderating Econ DJ Beige Book: High Energy Costs Boost Manfuacturing Prices DJ Beige Book: Energy Has Much Less Effect On Retail Prices DJ Beige Book:Labor Mkt Tighter;Wage Growth Mostly Moderate DJ Beige Book: Consumer Spending Slows; Mfg Growth Strong DJ Beige Book:Commercial Real Estate Stronger In Most Areas DJ Beige Book: Housing Mkts Cool Further; Building Slows DJ Fed Beige Book: Econ Grows, But Some Signs Of Slowing WASHINGTON (Dow Jones)--The U.S. economy continued to grow from mid-April to early June, but some signs of slowing emerged as consumer spending seemed to decelerate and housing markets cooled further, according to a Federal Reserve report released Wednesday. "Activity moderated in four districts - Atlanta, Kansas City, Richmond and San Francisco - and the New York District noted increased concern about the outlook for the second half (of 2006)," the Fed said in its latest Beige Book report. Seven of the Fed's 12 districts reported economic growth during the latest period similar to previous weeks, while the Philadelphia district was the only one to report an improvement in overall economic conditions. Manufacturing activity "expanded quite strongly," with particularly sharp growth in the energy, semiconductor and aerospace industries, but more areas of weakness emerged than in the previous Beige Book report, the Fed said. Manufacturers also reported increased cost pressures for goods such as energy, but the flow-through to retail prices appeared to be limited, the report says. "High energy costs were fueling price increases in manufacturing and, to a much lesser extent, retail," it says. Reports of costs being passed through varied widely but were more common than in the previous Beige Book. The Beige Book is a summary of economic activity prepared for use at the central bank's next Federal Open Market Committee meeting June 28-29, adding context to economic indicators under consideration. As key inflation indicators have risen in recent months, financial markets widely anticipate the Fed will raise its short-term interest rate target at that meeting. That would extend a two-year credit tightening cycle that has already taken the federal funds rate to 5% from 1%. The most recent report was prepared by the Federal Reserve Bank of Dallas.