Fed 褐皮書：經濟顯現企穩跡象

Intercept from Fed Beige Book (10/21/2009)-Prepared at the Federal Reserve Bank of Richmond and based on information collected before October 13, 2009. ..

• Reports from the 12 Federal Reserve Districts indicated either stabilization or modest improvements in many sectors since the last report, albeit often from depressed levels.(美聯儲12個儲備銀行轄區內多數行業顯示出企穩或溫和復甦跡象)
  
  
• Manufacturing：Most Districts reported that manufacturing activity was generally stronger since the last report.(大多地區的製造業呈現復甦, 部份地區主受惠於舊車換現金方案)
  
  
• Most Districts reported that housing market conditions improved in recent weeks, primarily from a pickup in sales of low- to middle-priced houses. Contacts reported that sales were boosted by the government's tax credit for first-time homebuyers. (房市近期呈現全面性改善, 主要是來自中低價位的銷售上升. 當然此也是受惠於政府針對首購族的稅賦減免)
  
  
• Commercial real estate continued to weaken across the 12 Districts...High vacancy rates were noted as a key concern especially for landlords who were not offering concessions. (各區的不動產市場仍是較為疲弱, 高的空屋率即是其隱憂)
  
  
• Banking and Financial Services：Many Districts continued to report weak or declining loan demand, and many noted further erosion of credit quality.(銀行與金融區塊仍是較弱的一環,主來自貸款需求低迷或者下降)
  
  
• Employment, Wages, and Prices：Labor market conditions were generally reported as weak or mixed across Districts, but a few encouraging signs were noted.(勞動市場普遍低迷, 但部份地區有些許令人鼓舞的跡象)