The Beige Book offers information on the state of economic affairs and is used by Federal Reserve economists and staff to assess economic conditions in the Federal Reserve Districts. It is helpful to watch these indicators because they can lead to insight into possible Federal Reserve policy changes and in turn investment prospects, economic activities, etc...
If you are an employer you may look at this data to figure out wage and employment changes that help you make decisions as an employer. Businesses live within a broader economic system and as the system changes they will need to change their strategies in order to meet market needs. The Beige Book offers insight to economic change throughout the year.
The U.P. is in the Minneapolis District: MAP
Minneapolis District economic activity increased modestly. Hiring demand increased, but contacts said health risks and other obstacles kept some workers out of the labor force. Holiday spending was better than many feared, but below last year, especially for small retailers. Commercial construction slowed, and the outlook remained weak. Agricultural conditions improved due to increased commodity prices and government aid.
The rest of Michigan is in Chicago District.
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