{"id":1004089875,"date":"2014-01-16T07:22:14","date_gmt":"2014-01-16T15:22:14","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004089875"},"modified":"2022-12-08T23:41:39","modified_gmt":"2022-12-09T07:41:39","slug":"economy-watch-beige-book-strikes-optimistic-tone-world-bank-hopeful-on-world-economic-growth","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/economy-watch-beige-book-strikes-optimistic-tone-world-bank-hopeful-on-world-economic-growth\/","title":{"rendered":"Economy Watch: Beige Book Strikes Optimistic Tone; World Bank Hopeful on World Economic Growth"},"content":{"rendered":"

By Dees Stribling, Contributing Editor<\/em><\/p>\n

The Federal Reserve released the latest Beige Book on Wednesday, or to use its full formal name, the \u201cSummary of Commentary on Current Economic Conditions by Federal Reserve District,\u201d and it had some positive things to say about the U.S. economy. \u201cNine Districts indicated the local economy was expanding at a moderate pace,\u201d the book said. \u201cThe economic outlook is positive in most Districts, with some reports citing expectations of \u2018more of the same\u2019 and some expecting a pickup in growth.\u201d<\/p>\n

Regarding residential real estate, most districts reported increases in home sales in the closing months of 2013 compared with last year. Residential construction saw \u201cslight to moderate increases\u201d in most districts. \u201cReporting Districts indicated that residential real estate contacts remained optimistic looking forward, while voicing concerns about declining inventory and potential changes in the mortgage market,\u201d the book said.<\/p>\n

As for commercial real estate, there was much good news. \u201cExcepting the New York and Dallas Districts, which gave no information on recent construction, all other Districts reported increases in commercial construction activity in recent weeks,\u201d the Beige Book said. \u201cIn the Boston and Richmond Districts, construction activity increased in the education and healthcare sectors. A significant number of commercial high-rise structures are being built (or planned) in the San Francisco District. Information concerning the commercial real estate outlook was largely positive where it was reported.\u201d<\/p>\n

World Bank Hopeful on World Economic Growth\u00a0<\/strong><\/p>\n

The World Bank was optimistic about global economic growth for the new year in its more recent \u201cGlobal Economic Prospects\u201d report, which was released earlier this week. \u201cMost of the acceleration is expected to come from high-income countries, as the drag on growth from fiscal consolidation and policy uncertainty eases and private sector recoveries gain firmer footing,\u201d the report said. Worldwide, the World Bank is predicting 3.2 percent economic growth this year, up from 2.4 percent in 2013.<\/p>\n

The U.S., European, Japanese, and other fully developed economies will continue to see improvement, the report predicts, rising 2.2 percent this year. That isn\u2019t stellar growth, but it\u2019s a lot better than the 1.3 percent growth the developed world experienced in 2013. The largest developing economies, namely China and India, will also pick up the pace \u2013 to more than 5 percent — though not into double-digits growth they previously enjoyed.<\/p>\n

Wall Street had another up day on Wednesday, with the Dow Jones Industrial Average gaining 108.08 points, or 0.52 percent. The S&P 500 was up 0.52 percent and the Nasdaq advanced 0.76 percent.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

The Beige Book had some positive things to say about the U.S. economy, mainly that it was expanding at a moderate pace. The World Bank was also optimistic about global economic growth for the new year in its more recent \u201cGlobal Economic Prospects\u201d report.<\/p>\n","protected":false},"author":952,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742],"tags":[],"class_list":["post-1004089875","post","type-post","status-publish","format-standard","hentry","category-latest"],"acf":[],"yoast_head":"\nEconomy Watch: Beige Book Strikes Optimistic Tone; World Bank Hopeful on World Economic Growth - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/economy-watch-beige-book-strikes-optimistic-tone-world-bank-hopeful-on-world-economic-growth\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Economy Watch: Beige Book Strikes Optimistic Tone; World Bank Hopeful on World Economic Growth\" \/>\n<meta property=\"og:description\" content=\"The Beige Book had some positive things to say about the U.S. economy, mainly that it was expanding at a moderate pace. 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