ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Thursday, May 9, 1996 TAG: 9605090062
SECTION: BUSINESS PAGE: 7 EDITION: METRO
SOURCE: JEFF STURGEON STAFF WRITER
The economy grew at a moderate pace in late March and early April in the mid-Atlantic region that includes Virginia, the Federal Reserve in Richmond said Wednesday.
Retailers who answered a Federal Reserve survey reported faster growth of sales and customer traffic, according to the Fed's Beige Book report of business conditions.
Manufacturers complained of a continuing shortage of skilled labor, but all companies contacted except those in Maryland reported a pickup in key indicators. Port officials said imports and exports were running higher in March than in February and March 1995.
The temporary employment industry placed workers in jobs at a faster pace and companies gave those temporaries permanent jobs at a faster pace as well, the Fed report said.
Lenders' reports were mixed, and home sales slowed from the previous survey period. Analysts detected fewer tourists than a year ago., but no shortage of hopeful expectations for the next six months on the part of hoteliers and restaurant operators.
Farmers faced no unusual handicaps, the report said., West Virginia and North Carolina said receipts grew at an increased pace.
LENGTH: Short : 38 lines ILLUSTRATION: PHOTO:map Fifth Federal Reserve District KEYWORDS: FIFTHby CNB