Regional Economic Digest
Second Quarter 1998

The Tenth District economy expanded at a faster clip in the first quarter of 1998 than in the previous quarter. Mild winter weather sparked strong construction activity, manufacturing activity expanded moderately, and the farm economy was mixed. Low energy prices limited gains in the energy sector. The unemployment rate held steady as employment levels rose solidly.

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Survey of Tenth District Manufacturers
By Ricardo C. Gazel

Manufacturing activity in the Kansas City Federal Reserve District expanded moderately in April, according to a quarterly survey of manufacturers across the district. The survey takes a snapshot of manufacturing the first month of each quarter by asking plant managers about a variety of manufacturing  indicators (Table 1).

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Survey of Agricultural Credit Conditions
By Michelle Beshear and Russell L. Lamb

Agricultural credit conditions in the Tenth District improved modestly in the first quarter of 1998, according to a survey of 314 district agricultural bankers. An optimistic outlook for 1998, coupled with continued strength in feeder cattle prices, lifted farmland values in the district. Demand for farm loans fell and loan repayment rates continued to slide. The availability of funds at district agricultural banks increased in the first quarter, while farm interest rates edged down further. The loan-deposit ratio remained high but edged down slightly from the previous quarter.

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Good Times Continue for Tenth District Banks
By William R. Keeton

Commercial banks in Tenth District states continued to perform well in 1997. Profitability remained high, loan quality improved, and loan growth and deposit growth were both strong.   Banks in district states also outperformed banks nationwide by all four performance measures.

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Economic Indicators

The actual Economic Indicators tables from this issue of the Regional Economic Digest are not available because data have been revised. Regional Economic Indicators are available and updated monthly by research staff.

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