Manufacturing firms continue to report good sales with few supply bottlenecks. Iron mining and oil production are strong, while forest product output is largely steady. Although crop planting and development have been somewhat retarded, the overall outlook is favorable. Beef producers are receiving higher prices, bringing relief to beleaguered ranchers and their lenders. Hog prices have risen, with strong export demand and reduced numbers on farms, and some packers face difficulty in procuring enough hogs to keep slaughter lines running at capacity.
Unemployment rates remain low in most regions, and employment numbers high.
Product prices show little increase. A few problems are visible. Many firms report some degree of wage pressure, and some are unable to find all the qualified workers they need. Corrugated cardboard manufacturers have slowed production in response to low prices. Areas of the Red River Valley in Minnesota and North Dakota continue to clean up after flooding, and output remains below usual levels for many firms in the Grand Forks metropolitan area.