Federal Reserve Bank of St. Louis
Wed November 30, 2011
St. Louis Federal Reserve district the exception in national economic summary
The latest report by the Federal Reserve finds that there was slow to moderate growth in all the Federal Reserve districts, except St. Louis.
What’s known as the Beige Book, or a summary of current economic conditions, is published by the United States Federal Reserve Board eight times a year.
St. Louis Fed economist Rubén Hernández-Murillo gave a summary of the November report on the local website.
He said the report shows manufacturing activity expanded in most districts, but slipped in St. Louis.
“The report noted that manufacturing activity declined since the October Beige Book with several firms announcing plans to close plants and decrease operations in the district," Hernández-Murillo said in his summary. "The decline in this sector tipped the scale toward overall weaker conditions than in the October Beige Book.”
Hernández-Murillo also said retail sales in the St. Louis district decreased in September and October, while auto sales increased slightly as compared to a year ago.
The St. Louis district, also known as the Eighth Federal Reserve District, is based in St. Louis, but encompasses areas in seven states.
In the Federal Reserve’s 10th district in Kansas City, the Beige Book showed economic activity increased slightly, with both retail and manufacturing activity rising moderately.