
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: THURSDAY, June 23, 1994                   TAG: 9406280010
SECTION: BUSINESS                    PAGE: B-8   EDITION: METRO 
SOURCE: By LON WAGNER STAFF WRITER
DATELINE:                                 LENGTH: Short

BEIGE BOOK LOOKS ROSY

Hotels, motels and resorts in the Mid-Atlantic region reported robust bookings in May, likely meaning tourist activity would far exceed last year's level, the Federal Reserve Bank of Richmond reported Wednesday.

Many beach areas reported they were booked to capacity over Memorial Day weekend, and some resorts indicated record-setting numbers, the Richmond Fed said.

The tourism report was part of the Fed's survey of regional economic conditions, known to economists as the "Beige Book" because of the color of its cover. The Federal Reserve Bank of Richmond conducts the mail survey of manufacturers, retail stores, service providers and ports in Virginia, West Virginia, the Carolinas, Maryland and the District of Columbia.

Retailers and manufacturers expressed the most optimism about the economy. Retailers reported gains in employment, wages and sales of big-ticket items. Manufacturers indicated that not only had shipments and new orders increased, but so had employment.

by CNB