St. Louis continues to report generally less satisfactory economic performance. Even the three relatively weaker districts have enjoyed recent strength in manufacturing, however. Retail sales are showing modest gains in many regions, with particular strength in the Boston and Atlanta areas, but sluggishness in the Cleveland, Kansas City, and Dallas areas. Auto sales are flat, or even down a bit, according to most district reports. Construction activity is mixed, as it was last month, with commercial building a bit better than residential in many parts of the country.
Mining is strong, and all districts commenting on oil drilling report some increases in rig counts.
Crops and harvest conditions have been favorable almost everywhere. Only the Richmond district reports reduced corn yields, due primarily to adverse weather. Two districts report improvement in the financial condition of farmers and ranchers. There is continued mention of tightness in certain labor markets, particularly in retail and service industries. And many districts report rising prices for some raw materials and imported inputs.