The Federal Reserve Bank of Kansas City is seeing a stronger pulse in the regional economy.
In its latest survey of business conditions,the Kansas City Fed said the economy in the Tenth District continued to decline in March but showed some "tentative signs" of stability. The Tenth District includes the western part of Missouri and all of Kansas.
The KC Fed report was part of the Fed's so-called Beige Book survey of economic conditions nationwide. The nationwide survey fould five of the Fed's 12 regional banks reporting a moderation in the pace of economic decline.
The Kansas City bank said consumer spending and manufacturing activity fell "at a slower pace." Residential real estate activity and agriculture were "steady."
In another hopeful sign, the KC Fed said "fewer business contacts than in previous surveys expected further declines in economic activity."
On the flip side, commercial real estate in the region weakened further, energy activity dropped sharply and bankers reported lower loan demand and expectations of weakening loan quality.
Price pressures "eased further," the KC bank said, and wage pressures "remained low due to weakness in the labor market."
Go the KC Fed's Web site for the full report.
Which economy is he talking about? If it is main stream America, there is no change.