Stock exchange book of FRS: Recession weakling in the USA

/IRBIS, 30.07.09/ - the Federal Reserve System published, so-called " Stock Exchange Market Book" - the digest of 12 Federal reserve banks' reports. The review which is publishing 8 times a year, characterizes sectors of industrial production, services, agriculture, financial institutions, a labor market, the real estate market, from July 29, 2009. According to the current report: - in the majority of districts, a level of consumer expenses in the beginning of summer was less than previous year. Sales for the accounting period in Boston, Kansas City, San Francisco is increased. Small growth of car sales were fixed in Chicago, Minneapolis and Kansas City while in New York, Philadelphia, Clevelend, Atlanta sales have decreased. An exception demand in sale is for second-hand cars. Tourism decreased in the majority of districts. - in sector of nonfinancial services there were basically negative tendencies: demand for professional services, such as business support, architecture and legal services are continuing reduces. However, demand for medical services increased. IT the companies also were characterized by hyperactivity. - the data characterizing industrial sector, remain low, but a bit more positive than in the previous reports. Many districts are characterized from low industrial activity, but with separate signs of minor improvement. The situation with Chrysler and GM has strengthened trust of investors and hope that motor-car manufacturers will increase a level of production in July. Steel manufacture remains low, but the situation is stabilized. Oil refining factories have increased use of capacities for last six weeks; however as a whole the sectors remain weaknesses because of low demand for fuel. Various districts have noted cancellations of orders for commercial planes and weak demand for the majority of car kinds and the equipment. Among positive events growth of sales of military production and medical products is marked. - in agricultural sector in the USA the prices have fallen, in view of favorable weather in June and the beginning of July and improvement of a condition of a crop. The prices and incomes and in short-term prospect, predictably, will go downwards. Wheat and barley manufacture, predictably, will fall below level of 2008 in Saint Louis and Minneapolis. In district Dallas where the drought precedes, the most part of corn, a clap has been characterized as "not to collect". - the oil recovery fluctuated in June and the beginning of July. Quantity of chisel installations in Gulf of Mexico has decreased twice within a year in Dallas, and quantity of working installations has increased slightly. The prices for natural gas continue to fall, that interferes with new workings out in areas Kansas City's, Dallas and San Francisco. As a reply to weak demand from utilities of the price for coal in Cleveland have fallen to 50 % from the beginning of 2009. - in sphere of bank and financial services the general level of crediting was stable. In Philadelphia the insignificant increase in crediting of business, consumers, and also real estate is fixed. Demand for commercial and industrial credits Kansas City's, Dallas and San Francisco continue to decrease or remain weak in New York, Richmond, Saint Louis. Demand for consumer credits has decreased in New York, Saint Louis, Kansas City and San Francisco, was stabilized on a low level in Chicago, Dallas. The real estate of crediting have decreased in New York, Richmond, and Saint Louis. In Dallas it is observed steady, but the low volume of mortgage crediting, in Kansas City growth of mortgage crediting was slowed down. Refinancing has sharply fallen in Richmond, decrease also has occurred in New York and Cleveland. Banks continue toughening of credit rules in New York, Philadelphia, Richmond, Chicago, Kansas City, and Dallas. - the labour market remains languid, the majority of sectors is reduced by workplaces. In New York some signs of stabilization on a labour market were noted. In Atlanta inform about further deterioration of conditions and additional reductions of workplaces which are planned the next months. Weakness of a labour market practically liquidated possibility of increase of wages. The majority of districts have informed that pressure towards increase of the prices was minimum. [2009-07-30]