Dallas San Francisco Full report Solid economic growth continues in the First District.
Retail contacts report sales in line with expectations, with the majority citing strong growth.
Most respondents in the manufacturing sector are also seeing revenues rise well. While retailers say they are raising prices somewhat, supplier prices are flat to down with only a few exceptions. Wages are rising slowly, except for selected high tech occupations. Office rents are increasing, notably in the Boston area, as demand for commercial real estate outstrips fairly level supplies. Insurance company revenues rose in the first quarter, led by annuities and mutual funds.