Prepared at the Federal Reserve Bank of Atlanta and based on information collected before April 26, 1999. This document summarizes comments received from businesses and other contacts outside the Federal Reserve and is not a commentary on the views of Federal Reserve officials. District reports indicate that the U.S. economy continues to operate at generally strong levels and to expand at a moderate pace.
Consumer spending remains healthy, led by strong motor vehicle sales.
Both residential and commercial construction remain at high levels, although some slowing in the rate of expansion was noted in several Districts. Reports on agriculture have been mixed, while the outlook in the energy sector has improved. Loan demand is generally described as strong in many areas of the country. Prices generally remain stable, with the exception of oil and gas, and some building materials, which are in short supply. Inventories continue to be balanced.