In the farm economy, the winter wheat crop was in good condition and feedlots were operating at or near full capacity. Labor markets remained quite tight in much of the district, with continued evidence of moderate wage pressures. Prices generally held steady at the retail level and for construction materials. Price changes were mixed for manufacturing materials, with slight increases for some materials and declines for others. Retail Sales Retailers reported robust sales last month, strongly above year-ago levels.
All respondents expect sales to be steady over the next three months.
Most retailers were satisfied with current stocks and plan no major changes in the next several months beyond seasonal variations. Automobile dealers reported mixed results last month, with overall sales moderately lower than a year ago. Sales of sport utility vehicles and light trucks remained strong, while sales of passenger cars were weak. Dealers expanded inventories slightly for used and some new model cars and reported mixed feeling with respect to current stock levels. Respondents expected to increase inventories to match seasonally stronger sales in the coming months.