Manufacturers describe strong output and do not report problems with inventories or with securing inputs. Oil and gas activity is very strong. Forest products firms in the eastern part of the district report steady output, but there has been noticeable slowing in Montana. Farmers have been on a weather roller coaster, and prospects are for a good to average crop. Beef and hog producers continue to enjoy higher prices than a year ago, with output largely steady.
Unemployment rates are low in most areas, and employment numbers high.
Product prices show little, if any, increase. Two areas show some problems. Output is slowing somewhat at a few iron mines in the face of higher output inventories and ongoing structural change in the steel industry. The summer season is disappointing to tourist businesses in many areas, with visitation rates somewhat below last year's levels. Publicly let contracts in those states and in North Dakota through June ran 14 percent ahead of 1996, which itself had been considered very strong.