Prices up, 2011 outlook fair Fed poll

Jan 13, 2011 | 11:50 AM |

Manufacturers in at least five of the Federal Reserve System's 12 districts reported paying higher input prices, but the outlook for job creation is strengthening, according to the Beige Book, the Fed's regional economic activity survey conducted every six weeks.

"Specific markets or products (are) experiencing high or rising prices, including steel and other metals, building materials, chemicals and petroleum-related products," according to the latest report.

Surveyed manufacturing companies in the Kansas City and Philadelphia districts plan to attempt more price increases in 2011; some manufacturers in the Boston district are uncertain if their price increases will stick; and industrial companies in the Chicago district project only a "limited and gradual" pass-through for their rising material costs.....

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