The May 2024 report shows economic growth and job gains as price increases and tight credit impact consumers.
- Most Districts noted better labor availability and decreased employee turnover.
- Tight credit standards and high interest rates continued to constrain applicants and lenders.
- Price growth is expected to continue at a modest pace.
The outlook is less optimistic, even considering the gains.
- 75% reported economic growth
- 25% cited a flat economy
- 67% reported job gains
- 33% reported no change in employment
- 75% reported weak commercial real estate
- 25% noted stable to increasing demand