"We Read It So You Don’t Have To: 10 Beige Book Gems"

From Real Time Economics:

The Federal Reserve’s “beige book” report, out Wednesday, offers a view of economic conditions across the country from anecdotes gathered by the central bank’s 12 districts. The latest report covered mid-February through early April, and most regional banks said economic activity improved since the start of the year as the weather finally turned a corner. Retailers and transportation firms said they were still working through disruptions from the worst of the frigid temperatures. But tourism was stronger, particularly at ski resorts in some areas. And shoppers—particularly car buyers–appeared to be more confident.

Here are 10 of our favorite gems from today’s release:

1. In Washington, D.C., tourist traffic for the Cherry Blossom Festival started in March and was described as robust, even though cold weather pushed the peak bloom time to the second week of April.

2. In New York, both revenues and attendance at Broadway theaters picked up in March and were up nearly 15% from a year earlier—in part because there are more shows running now. The average ticket price has leveled off.

3. The last Saturday of March was “tremendous” in the Philadelphia area, despite rain and snow, and restaurants were packed. Auto dealers reported that sales grew at a strong pace, and said the last week of March was “about as good as it gets.” According to one large dealership, its sales force closed on 30 to 40 vehicles per salesperson in March....MORE