The Federal Reserve has released it Beige Book summary of economic conditions around the country. Prominent was the plight of the ag economy, specifically deteriorating cash flow, credit payments and investment spending. Meanwhile, recent economic data together with the uncertain trade situation cloud up the crystal ball in terms of forecasts for the general economy. There have been several notable developments. - The April trade deficit was down to $50.8 billion from $51.9 billion in March. The drop was on both sides of the ledger sheet (i.e., reduced exports and imports). Exports were at their lowest monthly total in three years, but half of the decline was due to a drop in aircraft orders for Boeing due to the safety concerns over its 7...

TAGS – China, North America, Macroeconomics