Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: THURSDAY, June 22, 1995 TAG: 9506220044
SECTION: BUSINESS PAGE: B-8 EDITION: METRO
SOURCE: JEFF STURGEON STAFF WRITER
DATELINE: LENGTH: Medium
The Federal Reserve Bank of Richmond said Wednesday that hotels, motels and resorts, already busier than a year ago, expected to maintain that pace over the next six months. The bank made the report as part of the Federal Reserve's Beige Book, issued every two months as a check on the regional U.S. economies.
Shipping ports expected exports to rise faster than imports, said the report, which was a result of a survey of businesses and government officials in Virginia, West Virginia, the Carolinas, Maryland and Washington, D.C.
Manufacturers agreed that exports will rise, but said signs of factory growth weakened in May from April. Worries about inflation eased and hiring projections grew somewhat.
Temporary employment companies said they began hiring more people in May and expect at least six months of robust activity. Computer operators and customer service workers were most in demand.
Retailers said they anticipate slower sales but with prices ranging 1.1 percent higher during the last half of the year. Service industries predicted a price increase of 0.9 percent during the same period.
Residential real estate sales were flat except in South Carolina, where they picked up. In the equally stagnant commercial real estate market, the bright spot was Charlotte, N.C., where new leasing activity prompted rents to rise slightly.
Growing conditions improved during the survey period, allowing farmers to plant spring crops and harvest grain on schedule.
by CNB