Beige Book sees

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The report covers a perioxd from mid-April to the end of May. Demand was soft for retaikl goods and demand forservices fell. But home saled firmed up in many parts ofthe Fed’z 12th district. Inflation was and upward pressure on wages will essentiallty nil inthe district, the Fed said. Manufacturing remained at an extremelylow level, or fell, althougn conditions improved for information technology products. Home construction staye at low levels, and commercial real estatd demand continuedto drop. Loan demandc weakened and creditremained tight. The Beige Book is the Fed’s summar y of current economic conditionss for each FederalReserve district. It is publisheed eight times a year.
The 12th district, based in San covers nine western states, including Alaskw and Hawaii. The full Beige Book is .