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Get an update on the agricultural sector by the Federal Reserve in the RightRisk Newsrelease at: RightRisk.org/news.
NATIONAL ECONOMIC ACTIVITY continued to expand from early April to mid-May; however, conditions varied across industries and Districts. Retail spending was flat to up slightly, reflecting lower discretionary spending and heightened price sensitivity among consumers . . . Tight credit standards and high interest rates continued to constrain lending growth. Housing demand rose modestly. Conditions in the commercial real estate sector softened amid supply concerns, tight credit conditions, and elevated borrowing costs. Energy activity was largely stable, whereas AGRICULTURAL REPORTS WERE MIXED, AS DROUGHT CONDITIONS EASED IN SOME DISTRICTS, BUT FARM FINANCES/INCOMES REMAINED A CONCERN. Overall outlooks grew somewhat more pessimistic amid reports of rising uncertainty and greater downside risks . . .
