The Eleventh District economy grew at a modest pace over the past six weeks. Manufacturing demand was mixed. Retail sales were weak, with the exception of strong auto sales. Demand for nonfinancial services held steady or improved, except for railroads which saw decreased cargo volumes. Real estate activity remained solid overall, and loan demand rose slightly. Demand for oil field services remained depressed, and lower oil prices dampened outlooks. Price pressures remained subdued and employment held steady or increased. Outlooks were mostly positive, except in the energy sector.
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