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Dallas Fed reports December retail demand and weak moisture in Texas
The Federal Reserve Bank of Dallas notes strong December retail demand with department stores up about 16 percent from a year earlier and wholesale distribution higher than last year. Agricultural conditions deteriorate due to moisture shortages, subsoil moisture is low, and some regions have no surface moisture. Heavy rains needed for crops. mild weather helps farming progress and cattle. Building permits fell 38 percent from November though December total exceeded 1933. Banking data show slight declines in loans, with reserves and deposits near year-ago levels.
MENTIONED IN THIS ARTICLE
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Federal Reserve Bank