Economic Outlook
November survey highlights:
* The Business Conditions Index fell for the third straight month, but remained above growth neutral for the 24th straight month.
* Strong manufacturing job gains for the month with durable goods producers leading the way.
* Approximately 65.2 percent of the supply managers indicated that rising tariffs had made it more difficult, or expensive, to purchase from abroad. Up from 40.8 percent in September.
* Lower oil prices pushed the regional inflation gauge lower.
November Survey Results at a Glance:
* Overall index falls below growth neutral for first time since January.
* Approximately 37.5 percent of bank CEOs support reducing recently enacted tariffs on imported goods.
*On average, bank CEOs expect holiday retail sales in their area to expand by only 1.7 percent from last year.
*On average, bankers project that farm loan defaults will rise by 5.0 percent over the next year.
