The District economy continues to grow at a moderate pace.
Contacts report growth in employment and sales, although many firms still face tight labor markets.
High fuel prices have bitten into several industries' profits. Sales of existing homes have continued to slow in some regions in the District, while in other regions housing demand continues to be strong. Loan demand has increased modestly, but banks continue to struggle to attract deposits. A mild increase in some crop prices has been noticed lately. Manufacturing and Other Business Activity Contacts report sound overall business conditions in the District, with output remaining high and demand growing.