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BeigeBookApril - domestic and foreign brands Banking Loan...

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Best Month of 2007 April 25, 2007 Manufacturing Production levels were stable to increasing since March. Contacts anticipated production remaining at current levels or even increasing. Auto plants reported an increase in production with increases evenly distributed between domestic and foreign companies. Though auto production is up from March, it is down from 2006. Capital expenditures were on plan; half of the contacts planned to increase spending. Construction New home sales were stable. New home prices continued to be high in comparison with existing homes. Commercial building activity was steady. There was a slight increase in employment levels. Retail There was a rise in sales for March, but activity was still below plan. All contacts expected sales to increase during the second quarter. Auto sales increased in both
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Unformatted text preview: domestic and foreign brands. Banking Loan demand was flat to slightly up. There was an increase in demand for auto loans. Bankers in larger markets tightened mortgage credit standards. There was no change in credit quality. Loan delinquencies were decreasing. Energy Coal production was decreasing. Oil and gas production was increasing. Capital spending was on plan. Oil and gas producers reported a slight increase in hiring. Transportation There was a slight increase in the demand for trucking and shipping services. A majority of contacts said that capital spending would be lower compared to 2006. Employment was steady. Monetary Policy Recommendation The central bank should leave interest rates where they are currently. The economy of the region is doing well, but still has room to grow....
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