Manufacturing Manufacturers continued to operate at moderately high levels of capacity last month. Manufacturing materials were generally available, with lead times holding steady for most items and increasing somewhat for a few others. Inventories edged down last month and no major changes are expected in coming months. A quarterly survey of district manufacturers indicated that production, shipments, and new orders all increased at a healthy rate from September to October. Housing Builders report housing starts generally held steady last month and were unchanged from a year ago.
Builders anticipate a normal seasonal slowdown in construction activity in the coming months.
Sales of new homes edged down. Most building materials were readily available and delivery times were normal. Mortgage lenders report slightly higher demand last month but expect demand to slacken in coming months. Banking Bankers report that loans increased and deposits remained unchanged last month, raising loan-deposit ratios slightly. Consumer loans, home equity loans, home mortgages, and residential construction loans all increased, while other loan categories were little changed.