San Francisco Full report Economic expansion remains solid in New England. Reports from contacts in retailing, manufacturing, and commercial real estate all have a positive tone.
Insurance companies indicate mixed results.
A recent forecast of the New England economy predicts current trends will continue, with employment growing more slowly than in the nation and unemployment remaining low. Retail First District retailers report varied results in September and the first half of October. Respondents' expectations for the upcoming holiday season range from 1 to 15 percent sales growth over last year. Retail contacts believe the economy is strong in most areas of New England and that consumers are more confident and optimistic than a year ago. Gross margins and profits vary, and most inventories are high in anticipation of the holiday season.