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Regional Economic Information

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Regional Economic Information

Posted On: May 11, 2022 by First Community Bank and Trust in: Commercial Loans, General

Eight times per year, the most important color for anyone wondering what’s going on in the economy is beige. While it won’t be the Pantone color of the year (this year that would be Very Peri, a light purple), the Federal Reserve Beige Book is an update on the regional economies through surveys done by the various Federal Reserve Banks. The most recent one was released on April 20th and painted a more positive picture of the economy as a whole, and the Chicago region more specifically. You can read the full report here, but here are some cliff notes for Chicago (Region 7): Employment has increased at a strong pace, though there is a difficulty finding workers of all skill levels. Prices have increased and are expected to continue for the next 12 months. Customers have been understanding of the increases and have provided limited pushback. Consumer spending has increased modestly across the board and some stores are seeing increased foot traffic. Business spending

Regional Economic Information