• Job growth was subdued across the nation, as most Districts indicated imbalances persisted in the labor market as the availability of skilled workers and the number of applicants remained constrained.
  • Contacts in several Districts indicated input price growth slowed less than selling prices as businesses struggled to pass along cost pressures.
  • Manufacturing contacts in several Districts also noted that supply chain delays improved and that they could better meet existing orders.
  • New orders were stable or declined in most Districts, and backlogs shortened as demand for manufactured goods waned.