September Burgundy Book Shows Continued Softening of the Memphis Regional Economy

ST. LOUIS — The September edition of the Burgundy Book, the Federal Reserve Bank of St. Louis' quarterly summary of detailed economic information and data for the Memphis region, is now available. The Memphis region covers 21 counties in western Tennessee and 39 counties in northern Mississippi. (To view online, visit the Bank's web site: https://research.stlouisfed.org/regecon/district.html)

In addition, MP3 audio of clips of highlights from the Burgundy Book can be heard at: http://www.stlouisfed.org/newsroom/multimedia/audio.cfm. The audio clips feature St. Louis Fed economist and research officer Michael R. Pakko commenting on several important economic indices in the Memphis region, including consumer spending, manufacturing, real estate and construction, banking and finance, and agriculture. (NOTE: Reporters who prefer to interview Mr. Pakko directly should contact the St. Louis Fed.)

The St. Louis Fed will also release separate, detailed reports on the economies in its Little Rock, Ark., Louisville, Ky., and St. Louis regions on the same day and time.

The future release of the 2008 Burgundy Books is planned for Dec. 17, approximately two weeks after the release of the Beige Book.

With branches in Little Rock, Louisville and Memphis, the Federal Reserve Bank of St. Louis serves the Eighth Federal Reserve District, which includes all of Arkansas, eastern Missouri, southern Indiana, southern Illinois, western Kentucky, western Tennessee and northern Mississippi. The St. Louis Fed is one of 12 regional Reserve banks that, along with the Board of Governors in Washington, D.C., comprise the Federal Reserve System. As the nation's central bank, the Federal Reserve System formulates U.S. monetary policy, regulates state-chartered member banks and bank holding companies, provides payment services to financial institutions and the U.S. government, and promotes community development and financial education.

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