Roanoke Times Copyright (c) 1995, Landmark Communications, Inc. DATE: THURSDAY, May 6, 1993 TAG: 9305060112 SECTION: BUSINESS PAGE: B8 EDITION: METRO SOURCE: Daniel Howes DATELINE: LENGTH: Short
A survey released Wednesday as part of the Fed's Beige Book report said retailing was stronger, manufacturing was "generally strong" and the furniture market appears to be having its strongest season in five years.
Residential real estate in the Fed's fifth district improved, particularly for moderately priced homes. Commercial real estate strengthened in some areas, though it remained somewhat depressed in Maryland and Washington, D.C.
Manufacturing activity appeared to hold steady, though Virginia manufacturers reported surges in shipments, new orders and capital outlays. Employment levels were relatively unchanged.
Furniture makers were buoyed at the International Furniture Market at High Point, N.C, last month by confident buyers who appeared ready to build their inventories. Still, the Fed report said, thrifty consumers and high lumber prices continued to pinch profit margins.
Retailers reported increases in shopper traffic and sales, even of big-ticket items. They were optimistic about the next six months, but foresaw little change in job levels. - DANIEL HOWES
by CNB