The Beige Book
Summary of Commentary on Current Economic Conditions
By Federal Reserve District
For use at 2:00 PM EDT
Wednesday
May 31, 2017
May 2017
Federal Reserve Districts
Boston
New York
Philadelphia Cleveland
Chicago
Richmond
Atlanta
St. Louis Kansas City
Dallas
Minneapolis
San Francisco
The System serves commonwealths and territories as follows: the New York Bank serves the Commonwealth of Puerto Rico and the U.S. Virgin
Islands; the San Francisco Bank serves American Samoa, Guam, and the Commonwealth of the Northern Mariana Islands.
Alaska and Hawaii
are part of the
San Francisco District.
National Summary1
Boston A-1
First District
New York B-1
Second District
Philadelphia C-1
Third District
Cleveland D-1
Fourth District
Richmond E-1
Fifth District
Atlanta F-1
Sixth District
Chicago G-1
Seventh District
St. Louis H-1
Eighth District
Minneapolis I-1
Ninth District
Kansas City J-1
Tenth District
DallasK-1
Eleventh District
San FranciscoL-1
Twelfth District
What is The Beige Book
The Beige Book is a Federal Reserve System publication about current
economic conditions across the 12 Federal Reserve Districts. It charac-
terizes regional economic conditions and prospects based on a variety
of mostly qualitative information, gathered directly from District
sources.
The qualitative nature of the Beige Book creates an opportunity to
characterize dynamics and identify emerging trends in the economy
that may not be readily apparent in the available economic data. Be-
cause this information is collected from a wide range of business and
community contacts through a variety of formal and informal methods,
the Beige Book can complement other forms of regional information
gathering.
How is the information collected
Each Federal Reserve Bank gathers anecdotal information on current
economic conditions in its District through reports from Bank and
Branch directors, plus phone and in-person interviews with and online
questionnaires completed by businesses, community contacts, econo-
mists, market experts, and other sources.
How is the information used
The anecdotal information collected in the Beige Book supplements the
data and analysis used by Federal Reserve economists and staff to
assess economic conditions in the Federal Reserve Districts. This
information enables comparison of economic conditions in different
parts of the country, which can be helpful for assessing the outlook for
the national economy. The Beige Book also serves as a regular sum-
mary of the Federal Reserve System’s efforts to listen to businesses
and community organizations.
This report was prepared at the Federal Reserve Bank of Philadelphia
based on information collected on or before May 22, 2017. This docu-
ment summarizes comments received from contacts outside the
Federal Reserve System and is not a commentary on the views of
Federal Reserve ofcials.
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