According to the Federal Reserve, a galaxy far, far away is helping out business in the US.
The Fed released its latest Beige Book on Wednesday, a collection of economic anecdotes from each of its 12 member banks.
Wednesday’s report covered activity during holiday period.
And according to the business contacts in Boston, Star Wars was a big help.
“Four of the five contacts are positive about demand for their products,” according to the report.
“The good news is varied… A toy company reports much stronger sales, largely driven by the new Star Wars movie.”
Considering Goldman Sachs’ estimate that the movie would generate $8 billion in sales, with just over $6 billion coming from merchandise outside of the movie tickets, it’s not surprising the economic impact is widespread.
And while this isn’t an exhaustive survey, these sorts of findings help inform District branches’ feelings about the economy and in turn help paint a picture for the Fed as a whole.
(h/t Ben Leubsdorf)