Most other contacts report continued growth in their industries, although some have noted a slowing in this growth. Labor markets remain tight around the District. Materials prices are generally stable to up slightly. Real estate markets are strong in most parts of the District. Loan demand, particularly for business loans, remains relatively strong.
Farmers appear to have had a good crop year, with prices and yields generally above average.
Consumer Spending Retail contacts report that September and October sales were up about 4 percent from one year ago. Toys, home improvement products and women s apparel were the biggest sellers. Contacts also report that their inventories are at desired levels. Most are expecting a strong holiday season, with electronic products, toys and jewelry leading the way. Moreover, most believe that the first quarter of 1997 will yield better sales than a year earlier.