Firms with significant sales in Asia have seen a falloff in orders recently. In particular, orders for semiconductor manufacturing equipment declined substantially between August and October. Consumer Spending Retailers in the District report that unseasonably warm weather during the first two weeks of October restrained spending a bit. However, sales have recovered and are currently at, or slightly above, retailers' expectations. Inventory levels are thought to be adequate for the season, although a strong holiday sales period is generally anticipated.
Retailers continue to report steady prices.
In some cases, wholesale costs actually seem to be falling. Auto sales in early November continued a string of generally soft reports that began in September, and many dealers expressed concern over their growing inventories. Price incentives are reported to be on the rise. Sales activity in the used car market is seen as especially slow, and deep price discounts are being offered. Agriculture Overall, crop conditions have been favorable this year.