✖ Construction Reporter

Show Password Forgot Password?

Not a Member? Start a free-trial today!
Construction Reporter
  • Home
  • Services
    • Planroom
    • Printing
    • Project Upload
    • Architects & Owners
    • General Contractors
    • Subcontractors
  • Free Trial
  • Become a Member
  • Magazine
  • News
  • Contact Us
  • About
    • About
    • FAQs
    • Privacy Policy

federal reserve bank publication charts covid-19 economic hit

4/24/2020

0 Comments

 
Picture
The economic consequences of the COVID-19 outbreak are being felt throughout all twelve of the Federal Reserve Bank’s districts, according to the most recent issues of the Beige Book.

That publication, which comes out eight times a year and is a summation of the opinions of economists, business leaders, and others in the Federal Reserve Districts, says that interview responses this spring reveal “highly uncertain outlooks among business contacts, with most expecting conditions to get worse in the next several months.”

On the employment front, respondents indicated that job losses in the last few weeks have been “widespread, including the manufacturing and energy sectors.”

“The hardest-hit industries because of social distancing measures and mandated closures, were leisure and hospitality and retail, aside from essential goods,” the report continued.

Despite the job losses, company and business owners indicated their intention to hire back many of the laid-off employees once the coronavirus recedes.

Regarding conditions in western Texas and southern New Mexico, which make up a part of the Federal Reserve’s 11th district, the Beige Book reports that multifamily contractors said the impact of COVID-19 will become more evident in the months ahead, while a “number of land and commercial real estate transactions have been delayed or cancelled as investors take a wait-and-see approach.”

District 10 includes northern New Mexico and Colorado, where, according to the publication, “commercial real estate conditions deteriorated moderately.”

“Residential sales and inventories were flat compared to the previous survey despite a seasonal pickup, and were below year-ago levels,” the report continued, adding that construction projects and retails sales generally showed a decline.

“In the Mountain West, commercial projects generally proceeded, though new project proposals declined noticeably,” the Beige Book noted of activity in District 12, which includes Arizona.
​
“Some reports highlighted the potential for building owners to face strain if commercial tenants are unable to make rental payments,” the publication added of District 12’s current market dynamics.

​By Garry Boulard

0 Comments

Your comment will be posted after it is approved.


Leave a Reply.

    Get stories like these right to your inbox.
    ​Sign up for our newsletter

    Subscribe

    Archives

    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017

    Categories

    All

AFFILIATES

Picture
Picture
Picture
Picture
Picture
Picture
Picture
Picture
Picture
Picture
Picture
Picture
Picture
HOME
PLANS & PRICING
FREE TRIAL
MAGAZINE​
BECOME A MEMBER
PRINTING SERVICES
FAQS
CONTACT
​ABOUT

TIMELY, RELIABLE NEWS SINCE 1949 ​Construction Reporter
​
4901 Mcleod Rd NE STE 200A
Albuquerque NM 87109


​Phone: (505)-243-9793
Toll Free: (877)-292-5793
​Fax: (505)-242-4758

Copyright © 2022 Construction Reporter
User Agreement   Privacy Policy   Archive Policy
  • Home
  • Services
    • Planroom
    • Printing
    • Project Upload
    • Architects & Owners
    • General Contractors
    • Subcontractors
  • Free Trial
  • Become a Member
  • Magazine
  • News
  • Contact Us
  • About
    • About
    • FAQs
    • Privacy Policy