The Beige Book was a slightly less boringly beige report than normal as all 12 regions say growth was “modest or moderate” – up from 8 of 12 in April…
- *FED SAYS NEW VEHICLE SALES `WERE GENERALLY DESCRIBED AS ROBUST’
- *FED SAYS `OVERALL LENDING ACTIVITY INCREASED THROUGHOUT’ U.S.
- *FED SAYS `PRICE PRESSURES WERE SAID TO BE CONTAINED’
Weather remains an issue with 35 mentions (119 in Feb and 103 in April) but May was the month of exuberant car sales with 68 mentions of the growth and optimism.
Prices increased… sales increased…
via Zero Hedge http://ift.tt/Te6ImT Tyler Durden