Prospects for crops are generally very favorable. Reports on retail trade were mixed and inconclusive. Reports on credit demands also were mixed, but it is apparent that lenders have no difficulty finding profitable outlets for available funds. Selected highlights of reports from each of the districts follows. Comments on the universally bleak residential construction picture are omitted.
Unemployment remains relatively high.
Domestic capital goods orders are particularly vigorous for chemical processing equipment, machine tools, and aerospace. Foreign orders for capital goods are large. Views of four academic correspondents are presented. Demand for materials and goods remains strong, but slower growth in overall activity is expected. Higher prices abroad are drawing away U. S. resources.