ETC: Economic Trends & Conditions

A periodic overview of national and regional economic issues of relevance to financial institutions.

This publication was discontinued as of September 2012. Visit the Reserve Bank's Economic Research Publications page for current economic data, analysis, and commentary.


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ETC Economic Trends and Conditions: August 2012 Edition

Posted August 2012

Recent data have generally disappointed and suggest some loss of momentum in the ongoing economic recovery. Manufacturing activity, one of the bright spots so far in the recovery, is cooling, and a recent increase in the saving rate suggests that consumers may have become more cautious.

ETC Economic Trends and Conditions: June 2012 Edition

Posted June 2012

After growing at a fairly strong pace at the end of last year, real GDP has decelerated. Some of the slowdown is probably due to temporary factors, however, a broad range of economic indicators for the second quarter has come in softer than we expected.


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ETC Economic Trends and Conditions: August 2011 Edition

Posted August 2011

Recent economic news has been disappointing, confirming that the economy has been growing much less quickly than was expected earlier in the year. The easing of some of the economic headwinds should allow growth to pick up in coming quarters, though evidence suggests that some of the recent weakness is persistent.

ETC Economic Trends and Conditions: May 2011 Edition

Posted May 2011

Although recent economic news has been disappointing, much of the first-quarter weakness appears to reflect transitory factors, including harsh winter weather at the start of the year. The underlying pace of economic recovery appears intact and we expect real GDP to increase 3½ to 4% over the next year.

ETC Economic Trends and Conditions: March 2011 Edition

Posted March 2011

Data suggest that the economy is gradually improving, albeit with a bit less momentum than previously projected. Furthermore, conditions continue to fare moderately worse in the Twelfth Federal Reserve District than in the nation as a whole, with unemployment rates in many District states remaining well above the national unemployment rate.

ETC Economic Trends and Conditions: February 2011 Edition

Posted February 2011

Economic Trends & Conditions, published by the Federal Reserve Bank of San Francisco, provides a monthly summary of employment and housing data at both the national and district levels. The report addresses topics such as GDP, inflation, the Beige Book, lending activity, and credit activity.