Demand for business services remained quite strong, and energy activity was up. Retailers reported generally good sales growth, and auto sales were strong. Demand increased for most manufactured products, but there were signs of slowing for some construction-related inputs. Residential construction activity remained quite strong, but nonresidential activity continued to soften. Financial service contacts reported little change from the last report.
Agricultural conditions remain dry in many areas.
Prices Price pressures were mixed. Most energy and construction prices had fallen but some manufacturing and most service sector prices were up. The price of crude oil has declined steadily since peaking on March 7. Gasoline prices didn't peak until March 20 and are now falling in response to lower oil prices. One factor reported as keeping gasoline prices from falling along with oil prices was low levels of output.