2008

According to the Federal Reserve Beige Book economic report release Wednesday, consumer spending is slowing. The report is based on information from 12 Federal Reserve Districts in the U.S.

Here’s a broad overview of what they said. (For more, including district detail, click here.)

Overall, reports indicate economic activity is slow and business conditions are “weak,” “soft” or “subdued.” Not all markets are seeing this, however, as Boston and New York had signs of stabilization and Kansas City has seen a slight improvement.

Auto sales are falling or steady at low levels; tourism was mixed; and demand for services has lessened. The transportation …

Manufacturing contracted in August, according to the latest Manufacturing ISM Report on Business.
 
The PMI indicates a slight decline in manufacturing during August. This continues the 2008 trend toward negligible growth or contraction each month, but ultimately results in very little overall change in the sector, the Institute for Supply Management reports. This month’s report shows the first signs of lower prices as the Prices Index fell significantly, though still at an inflationary level. Export orders picked up additional momentum.
 
Five industries reporting growth in August included Paper Products; Computer &Electronic Products; Miscellaneous Manufacturing; Apparel, Leather &Allied Products; and Chemical Products. The industries reporting contraction in …

Source: Statistics Canada

The Canadian price indexes for manufactured goods and raw materials registered lower monthly growth in July than in the previous four months, increasing 0.4% and 1.4% respectively, primarily as a result of the slowdown in the rise of petroleum prices.

From June to July, prices charged by Canadian manufacturers, as measured by the Industrial Product Price Index (IPPI), rose 0.4%, down from the average monthly growth rate of 1.5% observed from March to June. The increase in the index in July was almost entirely attributable to a 2.4% rise in the prices for petroleum and coal products, which was the lowest rate in five months.

The prices for products other than petroleum and coal …

New orders for manufactured durable goods in July increased $2.9 billion or 1.3% to $219.3 billion, the U.S. Census Bureau announced. This was the third consecutive monthly increase and followed a 1.3% June increase. Excluding transportation, new orders increased 0.7%. Excluding defense, new orders increased 2.8%.
 
Shipments of manufactured durable goods in July, up three of the last four months, increased $5.3 billion or 2.5% to $218.3 billion. This followed a 0.9% June increase.
 
Unfilled orders for manufactured durable goods in July, up 29 of the last 30 months, increased $6.6 billion or 0.8% to $824.4 billion. This was also at the highest level since the series was first stated on a NAICS basis in 1992 and followed a 0.9% June …