• For more information about #2ndDistrict economic conditions: Link #BeigeBook https://t.co/0947z5LqO6
    New York Fed Wed 16 Oct 2019 19:40
    The Second Federal Reserve District includes New York State, Northern New Jersey, Southwestern Connecticut, Puerto Rico, and the U.S. Virgin Islands. In these pages, explore our regional economic data and research as well as information about community issues in the region.
  • Download the Beige Book: Link #BeigeBook https://t.co/0B3juhW9wG
    New York Fed Wed 16 Oct 2019 19:35
  • Banks reported a pickup in loan demand from the household sector, though the financial sector overall showed further signs of weakening. #BeigeBook https://t.co/7YVlJECQZt
    New York Fed Wed 16 Oct 2019 19:35
  • Commercial real estate markets have been steady to softer, and new commercial construction has tapered off somewhat. #BeigeBook https://t.co/WwYpYThC2z
    New York Fed Wed 16 Oct 2019 19:35
  • The rental market has continued to trend stronger. Residential rents have continued to rise at a 3-5% pace, and the high end of the market has out-performed in recent months. #BeigeBook https://t.co/4YTxNOm7ET
    New York Fed Wed 16 Oct 2019 19:35
  • Moreover, the inventory of resale inventories has risen noticeably. In contrast, home prices in the suburbs north of New York City have continued to rise slightly, while sales volume and inventory levels have been steady. #BeigeBook https://t.co/9r6gViRcl2
    New York Fed Wed 16 Oct 2019 19:30
  • A local real estate expert noted that, while the city's "mansion tax" (effective July 1) has curtailed high end sales, the price declines have occurred across the spectrum. #BeigeBook https://t.co/zTvQ8SSCNN
    New York Fed Wed 16 Oct 2019 19:30
  • Prices of New York City condos and co-ops, which had been fairly steady through mid-year, slipped noticeably in the third quarter—most sharply in Manhattan. #BeigeBook https://t.co/t8fqeU6I7T
    New York Fed Wed 16 Oct 2019 19:25
  • The home sales market has weakened, especially in New York City, whereas rental markets have continued to strengthen moderately. #BeigeBook https://t.co/WQfwBFmvF8
    New York Fed Wed 16 Oct 2019 19:25
  • Housing markets across the District have been mixed but, on balance, softer since the last report. #BeigeBook https://t.co/3TURkDEEcS
    New York Fed Wed 16 Oct 2019 19:20
  • Service firms, in general, have grown somewhat less optimistic about the near-term outlook. #BeigeBook https://t.co/eGQZNkLq2Y
    New York Fed Wed 16 Oct 2019 19:20
  • Finance and real estate firms reported notable weakening, while professional & business and education & health service firms reported flat to modestly declining activity. #BeigeBook https://t.co/OG0NtuxIdO
    New York Fed Wed 16 Oct 2019 19:20
  • Other service industries reported softening activity—particularly those engaged in information services. #BeigeBook https://t.co/QuYHWxOxqn
    New York Fed Wed 16 Oct 2019 19:15
  • Hotel occupancy remained solid across most of the District. #BeigeBook https://t.co/6VWTjlktsr
    New York Fed Wed 16 Oct 2019 19:10
  • Broadway theaters reported that attendance and revenues picked up noticeably in the second half of September, following a sluggish spell in August and early September. #BeigeBook https://t.co/xtQ7W2o8PO
    New York Fed Wed 16 Oct 2019 19:05
  • However, contacts in leisure & hospitality noted a leveling off in activity, following a substantial pickup in the last report. #BeigeBook https://t.co/Q1fODCV9p4
    New York Fed Wed 16 Oct 2019 19:00
  • Businesses across almost all service industries reported some weakening in activity, on balance, since the last report. #BeigeBook https://t.co/RoUMITfSgo
    New York Fed Wed 16 Oct 2019 18:50
  • Contacts in all these sectors have expressed ongoing concern about tariffs and trade tensions and the related uncertainty going forward. #BeigeBook https://t.co/WvlFlsNRNm
    New York Fed Wed 16 Oct 2019 18:50
  • Looking ahead, manufacturers and wholesalers have grown less optimistic about the near-term outlook, while transportation firms have become somewhat more optimistic. #BeigeBook https://t.co/Xnj2tLThpw
    New York Fed Wed 16 Oct 2019 18:50
  • On the distribution side, transportation contacts indicated a modest pickup in activity, while wholesalers noted a significant drop-off in business. #BeigeBook https://t.co/z3OpfmkpfP
    New York Fed Wed 16 Oct 2019 18:45
  • Manufacturers reported steady to slightly rising business activity. #BeigeBook https://t.co/AeCbCy4aHc
    New York Fed Wed 16 Oct 2019 18:45
  • Sales of both new and used vehicles have remained solid in recent weeks, according to dealers in upstate New York. #BeigeBook https://t.co/gB6HMuidTA
    New York Fed Wed 16 Oct 2019 18:40
  • On a more positive note, some upstate New York retailers reported continued modest growth in both sales activity and shopper traffic. In general, inventories were said to be near desired levels, helped by increased discounting over the summer. #BeigeBook https://t.co/1qbgswM7bA
    New York Fed Wed 16 Oct 2019 18:40
  • A major retail chain noted that sales were down and somewhat below plan in September, partly reflecting weak demand for home goods. #BeigeBook https://t.co/4tRRL6VhZ3
    New York Fed Wed 16 Oct 2019 18:40
  • Retail sales have softened in recent weeks and were mostly little changed from a year earlier. #BeigeBook https://t.co/oOe4qsICs3
    New York Fed Wed 16 Oct 2019 18:35
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