WASHINGTON — Highlights from the Federal Reserve’s survey of economic conditions nationwide. The survey, released Wednesday and known as the Beige Book, is based on information collected from the Fed’s 12 regional bank districts.
BOSTON
(This region covers Maine, Vermont, Massachusetts, New Hampshire, Rhode Island and part of Connecticut.)
The region’s economy grew. Manufacturers saw revenues rise, and many expect demand will improve gradually through the rest of this year. Some firms noted a ‘choppiness’ in business activity. Retail sales were mixed, with many merchants worried about sagging consumer confidence. Most companies were holding the size of their work forces steady.
NEW YORK
(This region covers New York and parts of Connecticut and New Jersey.)
The economy showed more signs of strengthening. Tourism in New York City was robust, helped by a pickup in business travel. Manhattan hotels said occupancy rates rose to a record high for May and stayed strong in June. Broadway theater attendance was brisk. Retailers said sales met or beat expectations. Sales of clothing were healthy. But sales of big-ticket appliances were sluggish. Auto sales retreated a bit, but are up from a year ago. Factories reported some ‘leveling off’ in activity. The commercial real estate market was mixed, although office leasing […]