The beige book and the ADP report could move the gold and silver markets Wednesday.
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On the inflation side, the Beige Book indicated that expectations on the core remain firmly anchored.
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Another positive sign coming from the Beige Book was the improvement in real estate markets.
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The beige book said U.S. economic growth continues at a moderate pace, with a pick-up in residential construction.
The Fed report, called the Beige Book, provides an overview of economic conditions from Feb. 22 through April 5.
The Beige Book showed a stable employment situation and easing price pressures on producers, despite relatively elevated input costs.
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Each Reserve Bank has people who work diligently and systematically in compiling the information that goes into the Beige Book.
The Beige Book reported that overall price pressures as elevated or increasing.
Since the beginning of July, which is what the Beige book covered, housing data has improved and consumption seems to have picked up.
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The Beige Book described consumer spending as sluggish or slowing in nearly all districts, although tax rebate checks boosted sales for some items.
On a positive note, the Beige Book acknowledged the improvement in real estate markets, indicating activity had expanded or remained steady in most districts.
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The Beige Book, released eight times per year, showed five districts recorded slight to modest increases in economic activity, including Boston and San Francisco.
Penney, and Best Buy did have a disappointing end to 2012, and all experienced mild jumps on Wednesday as the Beige Book was released.
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Indeed, the beige book reports that borrowing by homebuyers declined in San Francisco and New York, two of the hottest property markets in the country.
More broadly, the beige book noted that the U.S. economy continues to recover and in most districts is broadening beyond its roots in the factory sector.
The Federal Reserve sees economic activity continuing to increase since its previous survey, according to its monthly anecdotal collection of economic indicators known as the Beige Book.
Bryan Routledge, a professor at Carnegie Mellon University's Tepper School of Business in Pittsburgh, cautioned that the Beige Book contains anecdotal information about business trends, not hard numbers.
Though encouraging, the Beige Book was not without its warts.
The Beige Book is on the same page as automakers' November sales numbers, released on Wednesday, which showed General Motors and Ford Motor growing sales by more than 20%.
Assessing economic conditions through January 4, the Beige Book revealed a muted economic recovery with consumers spending more than a year ago but still disappointing retailers as fiscal uncertainty loomed.
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On Wednesday, the Federal Reserve Board comes out with their economic views in what is commonly known as the Beige Book, prepared ahead of the June 19 meeting of the Federal Open Market Committee.
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The latest Beige Book confirms that the U.S. economy is stuck in second gear, as economist David Levy recently put it.
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The September Consumer Price Index, September housing starts and the periodic Beige Book will be released on Wednesday.
U.S. economic data due for release Wednesday includes the weekly MBA mortgage applications survey, durable goods orders, the Chicago Fed midwest manufacturing index and the weekly DOE energy stocks report and the Fed beige book.
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The fall in consumer sentiment echoes the latest Fed Beige Book, which showed retailers had a disappointing holiday season.
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The Fed's beige book, a regular survey of anecdotal data released on January 15th, confirmed that the economy remains weak, but also revealed signs of pick-up in several regions, most notably the industrial north-east.
The information collected in this latest Beige Book will be used as the basis for the Fed's next policy discussion at its 29-30 January meeting.
The latest support for that view came from the central bank's Beige Book, an anecdotal compendium of economic conditions around the country.
That sentiment was echoed in the Federal Reserve's beige book, an anecdotal summary of economic conditions across the central bank's 12 regional districts.
On Wednesday the Federal Reserve will release its Beige Book and on Thursday will be the weekly jobless claims.
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