- RETAIL PRICES WERE STEADY IN MOST DISTRICTS
- MOST DISTRICTS REPORTED TIGHT CREDIT STANDARDS
- CONSTRUCTION REMAINED AT LOW LEVELS
- HOUSE PRICES INDICATED DOWNWARD PRESSURES
- WAGE PRESSURES WERE MINIMAL IN ALL 12 DISTRICTS
- LABOR MARKETS WERE WEAK IN ALL 12 DISTRICTS
- REPORTED MANUFACTURING SHOWED MODEST IMPROVEMENT
- LOAN DEMAND WAS WEAK
- DEMAND FOR COMMERCIAL REAL ESTATE WAS WEAK
- RESIDENTIAL REAL ESTATE IMPROVED
- MOST DISTRICT BANKS REPORTED FLAT RETAIL SALES
- 12 FED DISTRICT BANKS NOTED SIGNS OF IMPROVEMENT
- DISTRICT BANKS SAID ECONOMY CONTINUED TO STABILIZE
- Homeowners lost more than $5 trillion in wealth from the collapse of the bubble.
- Consumer spending was flat, retailers are not adding to inventories, instead keeping them in line with low sales levels.
- Majority of reports indicated that manufacturers were “cautiously optimistic”
- Credit remains scare, according to the report.
- Most districts reported weak loan demand and tight credit standards.
- Demand for commercial property remained weak and that businesspeople in some areas believed recently higher vehicle sales levels were likely not sustainable after the government’s cash for clunkers" incentive program
- “Labor market conditions remained weak across all districts, but several also noted an uptick in temporary hiring and a decline in the pace of layoffs.
Source: FXDD, Marketwatch, CNBC & Federal Reserve Board
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