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The Federal Reserve’s latest Beige Book takes a bleak look at the region’s economy, including Colorado’s. Consumer spending was down in December, leading to heavy discounts at stores. Manufacturing weakened. Home sales decreased. Bankers reported a decline in loan demand.
That’s a big-picture view, covering the Federal Reserve’s 10th District, which also includes Kansas, Nebraska, Oklahoma, Wyoming, and parts of Missouri and New Mexico, according to the Denver Business Journal.
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The bad economy, along with other factors, such as “new values,” seems to be impacting even America’s willingness to splurge on a steak dinner, says a researcher with the so-called International Livestock Congress, which is in Denver for the Stock Show (via MSNBC).