The recent slowdown in the pace of residential construction is generally being blamed on higher mortgage interest rates. Materials and labor shortages have also resulted in longer orders backlogs. Agriculture Crop yields were extremely varied across the District in 1999. In the northern reaches of the District, corn and soybean harvests were average, or slightly less than average. Recent rainfall in the District has helped the winter wheat and tobacco crops.
Most tobacco is reportedly in good or fair condition, although yields are below average.
The dairy industry is generally doing well throughout the District. Milk prices remain high, and feed prices have come down from earlier in the year. In some areas, recent rainfall has renewed pasturelands that had been diminished by earlier drought conditions. Industrial Activity Industrial activity is holding steady or growing moderately in the District. Production and orders data are generally favorable, and inventories have come down somewhat from the summer.