ed in the Beige Book. Within this report there is data pertaining to the latest statistics on consumer spending, manufacturing, labor markets, wages and prices, real estate and construction, and banking and finance. The article points out that the majority of districts are reporting increases in consumer outlays, and only a handful show signs of slowing. Some of these districts report that consumer expenditures might be down only due to the effects of hurricane Floyd. Most reported positive outlooks as the economy continues its' wild ride and the Holiday seasons are soon approaching. Virtually all districts reported increases in manufacturing across a wide variety of economic sector and industries. This includes massive increases in biotech's to strong growth in paper processing. The November 3 Beige Book for Minneapolis also points out that labor markets are saturated and the demand for workers exceeds that of the supply in many areas. This may be taken as good news from a college student's perspective, but at the same time it might also add to cost-push inflationary pressures. Given the increases in wages and disposable income, it is no doubt that mortgage markets continue to prosper. The east coast has seen 5 to 6 % increases in property value, but the volume of loans is growing at much smaller rate. (1 to 2%) On December 1, 1999 the Bureau of Economic Analysis (BEA) released their information pertaining to the third quarter of 1999. This article contained much information, including some of the most recent economic estimates and reports. Among them was news concerning the trade deficit. Because net exports is a component of GDP, it is important to recognize the nature of this sector when considering the future magnitude of GDP, potential inflation, and future monetary and fiscal policies determined by the Fed. It is plain to see that the recent currency crisis, increasing energy costs, and tariff problems with China have had a profo...
