Nonresidential construction remains weak, Beige Book finds; more metros add jobs

"Economic activity has continued to increase, on balance," since late May, the Federal Reserve reported on Wednesday [July 28]in the "Beige Book," a compilation of informal soundings of business conditions by the 12 regional Fed banks. Regions are referred to by the banks' headquarters cities. "Commercial real estate markets, especially construction, remained weak. ... Richmond, Chicago, and Dallas reported that firms in construction-related manufacturing experienced weak demand; construction supplies sales were flat in Kansas City, and Minneapolis reported that a firm in the sector was increasing production. ..." according to a July 30 Data DIGest report.

Read full article