San Francisco Full report With a few notable exceptions, contacts report moderating growth of economic activity throughout the Southeast in September and early October. Retailers indicate that sales are exceeding last year's levels.
Contacts generally have an optimistic outlook for tourism and business travel.
The single-family housing market slowed, while commercial real estate markets continued to improve. Banking contacts report that overall loan demand held steady. Despite current increases in production and new orders, manufacturing contacts are less optimistic about future production. Wage and price pressures have apparently not systematically emerged, in spite of increasing reports of labor shortages. According to District retailers, sales in August and September modestly exceeded year-ago levels.