As winter sets in, the Ninth District continues to enjoy moderate economic growth with few problem areas. Unemployment remains low, and indications of very tight labor markets are widespread. In spite of reports of labor market tightness and of some wage increases, there are few reports of price increases for raw materials, consumer goods or services.
Construction is brisk in many areas.
Iron mining and oil drilling are very strong and paper production displays some signs of recovery from the slump experienced over the last year. Retail sales of general merchandise apparently are picking up, and increased strength in vehicle sales continues. The 1996 crop was excellent in most respects, the profitability of livestock production has recovered somewhat, and farmers reportedly are increasing their spending on household and capital items. Manufacturing shows moderate growth. Tourism is the weakest sector, continuing a pattern set earlier in 1996.