Fed ‘Beige Book’ Sees Growth, Reveals Some Moderation for Trucking

conomic activity continued to expand in mid-July through late August, but there were signs of deceleration in some districts, the Federal Reserve said Wednesday in its latest “Beige Book” report.

Since the Fed’s last report, demand for trucking and shipping services has moderated slightly, though the trucking industry has bolstered its outlook in response to growing international trade and an expansion at the Port of Houston.

The report said freight volumes posted a slight year-to-year decrease, while shipments of construction-related materials have dropped sharply.

Heavy-duty truck production continues to be strong, but the Fed said its contacts expressed concerns about stricter emissions standards, which will go into effect in 2007 and possibly impacting demand.

The latest Beige Book, based on anecdotal interviews, was prepared by Federal Reserve Bank of New York, based on information collected in the 12 Fed districts from July 18 through August 28.

The Beige Book is published eight times a year, roughly two weeks before the Fed’s next rate meeting. The Federal Reserve Open Market Committee’s next meeting is scheduled for Sep. 20.