richmond fed

Regional surveys from Federal Reserve districts were mixed during the month, as softening conditions from the Philadelphia and Kansas City districts were offset by improvements in the Richmond and New York regions. Commentary from the regional surveys suggests tariffs, labor shortages, and the inability to find trucking capacity are curbing economic activity across the board, though growth remains generally positive.

Demand in the economy continues to grow at a solid pace at the start of the 3rd quarter, but a myriad of government survey results suggests that trucking capacity and concerns over tariffs have limited the performance of several sectors.