This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Beige Book Notes Small Steps

NEW YORK ( TheStreet) -- Economic activity continued to show moderate improvement, particularly in manufacturing, retail and nonfinancial services from November to December, according to the latest beige book data from the Federal Reserve on Wednesday.

Growth was modest except in the districts of Boston, New York, Philadelphia and Richmond where expansion was most pronounced.

The beige book, formally called the Summary of Commentary on Current Economic Conditions by Federal Reserve District, is published eight times a year, usually two weeks before the Federal Open Market Committee meeting.

Retail was a particularly strong area as holiday sales in 2010 strengthened from last year and largely exceeded expectations. Residential real estate remained a soft spot, and only a handful of districts noted increases in commercial leasing activity. Financial conditions, meanwhile, were mixed.

While most retailers and manufacturers saw rising costs, only a fraction could be passed on to consumers because of competitive pressures.

Regarding the closely watched labor market, most reports noted modest hiring growth but said upward pressure on wages was "very limited."

According to the report, "Most districts indicated that business contacts were positive about the outlook, although still generally cautious."

The report will be referenced by the Federal Open Market Committee during its next policy-setting meeting on Jan. 25-26.

-- Written by Melinda Peer in New York.

TheStreet Tools
* Ex-Dividend Date Calendar
* Top-Rated Stocks
* Highest-Yielding Stocks
* 2011 Earnings Calendar

Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
AAPL $130.28 0.00%
FB $81.53 0.00%
GOOG $565.06 0.00%
TSLA $218.42 0.00%
YHOO $44.52 0.00%

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs