Factory activity is mixed, with weakness in some sectors balanced by strength in others. The tourism and hospitality industry continues to post impressive numbers. Consumer and commercial loan demand is growing moderately. Overall, prices remain stable. Most retailers agreed that recent sales had met their expectations, and inventories are in good shape.
Apparel continues to be a strong seller.
Sales during the first quarter are expected to exceed last year's sales slightly. Construction Reports from real estate contacts indicate that both new and existing home sales were stronger in February than a year ago. These contacts say low mortgage rates are boosting sales in most areas of the region. Home construction activity has been subdued in some parts of the District because of inclement weather. However, inventories remain generally in balance.