Federal Reserve: Economic Activity Expands - Modern Distribution Management

Log In

Federal Reserve: Economic Activity Expands

Seven out of 12 districts report modest economic growth.

Reports from the 12 Federal Reserve Districts continued to indicate that the economy expanded at a modest to moderate pace from early January through mid-February in most districts since the previous Beige Book report.

Economic growth increased at a modest pace in Boston, New York, Philadelphia, Atlanta, St. Louis, Minneapolis and Kansas City. Dallas, San Francisco, Chicago and Richmond all grew moderately with Cleveland continuing to rise at a steady pace into February.

Manufacturing activity accelerated somewhat, with most districts characterizing the pace of growth as moderate.

Home construction and sales continued to expand modestly in most districts, while residential rental markets were mixed. Home prices were steady to up modestly in most districts, and a number of districts noted low inventories of existing homes. Commercial real estate construction grew modestly, and sales and leasing activity grew moderately. Lending activity was steady to somewhat higher.

Consumer spending expanded modestly since the last report. Retail sales increased at a subdued pace across most of the nation, with a number of districts noting an ongoing shift from in-store to internet purchasing. Auto sales varied widely, but were said to be up in most districts. Tourism activity was mixed but mostly stronger.

Pricing pressures were little changed from the prior report. Most districts reported that selling prices were up modestly or moderately, though four indicated that prices had largely leveled off. Input prices were up modestly, on balance. Energy prices and farm prices were mixed but mostly steady, on balance, while prices for construction materials climbed in a number of districts.

Labor markets remained tight in early 2017, with some districts noting widening labor shortages. Employment grew moderately in most of the nation. In general, wages in most districts rose modestly or moderately, with a few reporting some pickup in the pace of wage growth.


Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!


articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events



You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.