San Francisco Full report Business contacts in the First District continue to report growth. Retailers and temporary employment firms are the most upbeat, although most respondents in manufacturing and the insurance industry also say their revenues are expanding.
Prices are generally level or declining.
Labor markets in New England remain very tight, and base wage increases range from 2 to 6 percent. Respondents across industries express increased uncertainty about the outlook for 1999. Retail Most retail contacts report strong sales growth in recent months compared to a year earlier, generally above expectations. Sectors of strength were general retail, consumer electronics, home furnishings, and building materials. Men's casual wear is said to be weak, but the discount retail sector has rebounded somewhat.