About another third have excess inventories that they have tried to pare by increasing the dollar amounts and availability of rebates. Sales prices, however, remain unchanged from last year. Even though car dealers report somewhat erratic sales so far this year, most expect to finish the year with double-digit sales increases over last year. Manufacturing and Other Business Activity Contacts report that business activity has moderated slightly in the past two months, with demand for most goods declining a bit. Demand for some durable goods, such as furniture and appliances, is reportedly stable, however.
Internet companies continue to locate in the District.
In Louisville, for example, a web-based insurer will create almost 200 jobs, and an Internet service center is hiring 290 for its expansion. In northern Kentucky, a large clothing company will open a distribution center and hire about 850 workers. Several closings are also occurring in the District. In Memphis, FedEx plans to cut 200 technology jobs, and an electronics firm will send more than 300 manufacturing jobs abroad in the next three months. The recent tire recall forced Ford to close an assembly plant near St. Louis for two weeks to free up needed tires.