ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Thursday, September 12, 1996 TAG: 9609130110
SECTION: BUSINESS PAGE: B8 EDITION: METRO
SOURCE: JEFF STURGEON
The economic expansion continued in August in Virginia and the rest of the Mid-Atlantic region, although there were signs that growth is tapering off in some industries, according to the Federal Reserve Bank of Richmond.
The observations, based on surveys of companies and government agencies, are in the bank's report on the 5th Federal Reserve district. That includes Virginia, West Virginia, Maryland and the Carolinas.
The Richmond Fed said Wednesday that retail and home sales slackened and lending slowed, too, though not as much.
In his survey response, one West Virginia retailer mentioned another problem: "Finding quality employees continues to be difficult."
Analysts received widespread reports of labor shortages and pressure on employers to raise wages to keep and attract workers. Nonetheless, there were few signs of inflation.
The report added: "One respondent in Roanoke, Va., said that labor shortages in her area were becoming desperate." The report did not identify the source of the comment.
Manufacturers reported robust activity, with notable increases in shipments of industrial machinery. Printers received marked new orders.
LENGTH: Short : 33 lines ILLUSTRATION: GRAPHIC: map showing location of Fifth Federal Reserve Districtby CNBcolor