Solid expansion continued in the Eleventh District economy, although the pace eased slightly compared with the last report. Manufacturing output increased, and loan demand and retail spending accelerated. Broad-based expansion in the service sector continued. Home sales slowed, and drilling activity was flat. The ongoing drought dampened crop and grazing conditions. Employment increased, and widespread labor shortages continued to pressure wages. Price pressures stayed elevated largely due to increases in input costs. Although outlooks remained fairly optimistic, trade-related concerns have heightened uncertainty.
Read more...Eleventh District Beige Book 9/12/18 via Dallas Fed