Economic activity in the Eleventh District expanded slightly over the past six weeks. Manufacturing activity fell, while demand for nonfinancial services increased. Retail sales rose slightly on net, with automobile sales remaining strong. Real estate activity continued to expand in most markets. The energy sector saw improved sentiment, although demand for oil field services largely remained depressed. Loan growth softened and agricultural conditions remained favorable. Reports of employment changes and price pressures varied. Outlooks were generally positive but more cautious, with the upcoming presidential elections and the Brexit vote driving some of the uncertainty.
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