In the middle of a bitter winter, the economy of the Ninth District is growing moderately.
Construction continues to animate many areas.
Oil development is pumping cash into parts of three states, while mining and forest product output is generally steady. Manufacturers report generally good business with normal inventories and no price pressures other than in fuels. Severe weather is causing problems for cattle ranchers, and hog slaughter has dropped slightly compared to a year ago. Consumer spending apparently is guarded, with holiday retail sales only slightly above 1995 levels and cold weather reportedly slowing car sales. Tourism sector reports are mixed, but with some improvement in regions that had been slow.