Economic activity in the Eleventh District expanded moderately over the past six weeks. Manufacturing activity rose, and demand for nonfinancial services increased. Retail sales held steady and automobile sales remained strong. Real estate activity was flat to up in most markets. Loan demand was mixed. Demand for oilfield services stayed depressed, although drilling activity ticked up. Agricultural growing conditions remained favorable, but prices fell further. Overall employment growth picked up slightly, while prices held steady. Outlooks remained generally positive but cautious.
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