The state of the US economy from the perspective of regional Fed districts

    • Number districts and strong dollar was restrained manufacturing
    • Dollar was also restraining tourism
    • Consumer spending grew moderately
    • Vehicle sales grew more strongly than non auto sales
    • Wage gains mostly subdued.
    • Reports of increase wage pressure largely among highly skilled workers.
    • Prices remained fairly stable.
    • Philadelphia district noted relatively more growth in part-time and temporary work compared with full-time positions.
    • Pace of growth slowed in Richmond Chicago since last report.
    • New York Philadelphia, Cleveland, Atlanta, Chicago, St. Louis see modest growth
    • Minneapolis Dallas in San Francisco fed districts moderate
    • Labor markets tightened and most districts.
    • Consumer spending grew moderately since last.
    • Home sales prices increasing in almost all districts.
    • Banking financing generally positive with lending up
    • Manufacturing was weaker to mixed
    • Shortages reported mainly for skilled labor