Fed Beige Book sees some stabilization - Austin Business Journal:

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The book, published periodically by the bank, indicates that while respondentsz to the survey weremore optimistic, they remainn skeptical about the overall economy with hiringh freezes still in plac e and labor market conditions remaining soft in Eleventh Districtr markets. Professionals working in legal and accounting firms said clients are pushing for lowerd service prices and retailers say prices on goods continueto drop. Auto dealers are findingh that used car prices are maintaining theitr strength and are performing better than new car Airline leaders interviewed for the survey said theyreportesd “substantial fare sales” in recent weeks.
In the energh sector, professionals said rates charged for routin wellhead work are under pressure because producers are asking for more Prices in the manufacturing sector remain During the periodof mid-Aprilk to late May, light sweet cruder oil prices jumped from $50 to $60 per The labor market showed signs of continued Firms were still reporting layoffes even though employment levels are considered stead y overall.
The report says consolidationh in industries likeprimary metals, construction homebuilding, staffing, financial services and auto salexs creates a degree of worryh about further job The report says hiring freezes stillp remain prevalent and wage pressurezs are “mostly nonexistent.”