Oil and gas drilling has increased. Bank lending has declined for residential mortgages but risen for consumer loans. Lending to businesses has risen in some Districts but declined in others. Labor markets remain tight in all Districts. The pace of wage and salary increases did not appear to be accelerating generally, although there were some reports of larger recent salary increases in some industries and regions.
Prices appear to be mostly steady at the retail level.
Reports from manufacturers have been mixed. Although prices of industrial goods were reported to be mostly steady in a majority of Districts, prices of some goods have been on the rise. Consumer Spending Retail sales slowed somewhat in most of the country in November prior to the Thanksgiving holiday. Only Boston, Richmond, and San Francisco reported strong sales continuing into the month from October. However, sales picked up significantly in most Districts over the Thanksgiving weekend, and retailers expressed confidence that the brisker pace of sales will continue throughout the holiday shopping period.