Richmond's survey of large District banks, as well as information from other Districts, reveals that firmer credit standards are being applied to loan requests. Several Districts also indicate that an increase in loan delinquencies and a rise in bankruptcies are a matter of growing concern. Consumer spending in most Districts is beginning to perk up. St. Louis and Kansas City indicate that appliances are selling well. Tourist activity is on the upswing and is expected to remain so through the summer months in the Atlanta and Minneapolis Districts.
Several Districts note a pickup in the sale of larger-sized cars.
Minneapolis suggests, however, that consumer resistance to higher car prices may be responsible for a more recent drop in sales. Agricultural prospects appear mixed. Reports from a number of Districts confirm the decline in livestock prices. San Francisco' s agricultural prospects are expected to be excellent throughout the District. Rain and bad weather have affected crop plantings and prospects for crop yields in the Chicago, St. Louis, Kansas City, and Atlanta Districts.