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Sector: Summary Date: 09/03/2008 Area: Fourth District Cycle: Expansion Economic activity in the Fourth District has weakened somewhat since mid-July. Factory output was largely stable, though auto production declined. Residential construction remains weak, with no improvement expected going into 2009. Most commercial builders told us that business is steady; however, a growing number of them reported a decline in inquiries. Sales by District retailers showed a small improvement during July. Demand for business loans was relatively stable, while lending to households was flat to declining. Energy production was steady to increasing. And the market for freight transport services has softened.

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Federal Reserve Bank of Cleveland: http://www.clevelandfed.org