Solid expansion continued in the Eleventh District economy. Manufacturing output increased robustly, although demand growth slowed from last period. Healthy growth continued in retail and nonfinancial services. Loan demand and volumes increased further, as did loan pricing. Home sales were flat to up over the past six weeks. Drilling activity was flat as limited pipeline and transportation capacity inhibited growth. Employment increased, and widespread labor shortages continued to pressure wages and even restrain business growth in some sectors. Price pressures stayed elevated, partly due to tariffs driving up input costs. Outlooks remained optimistic despite increased uncertainty stemming from trade disputes, rising interest rates, and labor constraints.
Read more...Eleventh District Beige Book
October 24, 2018 via Dallas Fed