33% of Districts reported slight increases in activity, 50% no change, and 17% small to moderate declines. Employment increased in most Districts, though slower than in previous reports. Prices rose over the reporting period, though the rate of increase slowed in many Districts.
- Manufacturing activity was flat to up in most Districts, and supply chain issues continued to improve. Demand for transportation services was down, especially in trucking, where contacts reported a freight recession.
- Commercial construction and real estate activity decreased overall, with the office segment showing weakness.
- The labor market continues to be strong, with contacts reporting difficulty finding workers across various skill levels and industries.
- Nonlabor input costs rose, but cost pressures had eased and noted price declines for some inputs, such as shipping and certain raw materials.