Business and Financial Developments: Late Summer 2017
Economists at the Federal Reserve Bank of St. Louis periodically analyze national and local economic conditions. In September, conditions were characterized as follows:
- Nationally, labor market conditions softened in August when nonfarm payrolls increased by 156,000. Employment data for early fall will be unpredictable until the effects of hurricanes Harvey and Irma are fully realized.
- Locally, Eighth District labor market conditions continue to improve, and the outlook is unchanged from mid-May. Fifty-three percent of contacts expect District economic conditions in 2017 to be better or somewhat better than last year.
- The St. Louis Economic News Index projects real annual GDP growth of more than 3% for the third quarter. The manufacturing sector continues to strengthen, while housing remains a weak spot.
This report is compiled using a combination of internal and external data and tools.