ETC: Economic Trends & Conditions
A periodic overview of national and regional economic issues of relevance to financial institutions.
This publication was discontinued as of September 2012. Visit the Reserve Bank's Economic Research Publications page for current economic data, analysis, and commentary.
Posted September 2012
Posted August 2012
Recent data have generally disappointed and suggest some loss of momentum in the ongoing economic recovery. Manufacturing activity, one of the bright spots so far in the recovery, is cooling, and a recent increase in the saving rate suggests that consumers may have become more cautious.
Posted June 2012
After growing at a fairly strong pace at the end of last year, real GDP has decelerated. Some of the slowdown is probably due to temporary factors, however, a broad range of economic indicators for the second quarter has come in softer than we expected.
Posted May 2012
In the early stages of past recoveries, residential construction made significant contributions. This time, several years after the Great Recession ended, housing remains deeply depressed.
Posted March 2012
Recent data on the economy have been mixed. While labor market conditions continued to improve in February, some other data releases suggested softening.
Posted February 2012
The Twelfth District economy continued to grow at a moderate pace during the reporting period of late November through the end of December.