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Fed Reports that High Energy Costs Nag Businesses

Credit Pacific Service Union By Freddie Mooche

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Credit First Service Union (AXcess News) Washington - The Federal Reserve reports that high energy costs were at the forefront of most Districts' mentions of cost pressures. Manufacturers in most Districts cite rising costs for other inputs, with metals mentioned most frequently along with petroleum-related products.

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Card Credit Mobile Service While no District reports that cost increases have intensified in the latest survey period, Kansas City says that firms were having greater difficulty obtaining steel and aluminum. Services firms are also reported to be facing higher costs, notably for utilities, shipping, and transportation. Many Districts describe firms as attempting to raise selling prices but having mixed success, with price increases generally either smaller than the cost increases or less widespread.

where you work and live and how you pay your bills. It also may show whether you've been sued or arrested or have filed for bankruptcy. Companies called consumer reporting agencies (CRAs) or credit bureaus, compile and sell your credit report to businesses. Because businesses use this information to evaluate your applications for credit, insurance, employment, and other purposes allowed by the Fair Credit Reporting Act (FCRA), it's important that the information in your report is complete and accurate.

Card Credit Discover Service In the energy sector, demand for oil and natural gas or oil services remains robust and energy activity continues to expand.

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Credit Public Service Union Dallas and Kansas City indicate that the count of active oil and gas rigs continues to rise. In the Gulf of Mexico, Dallas notes that the rig count is close to pre-Katrina levels, while Atlanta reports that the share of oil and gas still "shut in" amounted to just 23 percent for oil and 14 percent for natural gas in early April. Dallas, Kansas City, and San Francisco contacts see little or no excess capacity in the energy sector. In particular, Kansas City contacts say that shortages of equipment and workers are constraining drilling activity; pipeline capacity is also limited in some areas.

This Service is not intended to substitute for any free credit report or disclosure that any credit reporting agency or bureau is required by law to provide to you.

Card Credit Processing Service Reports of lending activity are mixed, as most Districts reporting on financial services continue to see decreases in demand for consumer loans and residential mortgages, coupled with moderate expansion of commercial and industrial lending.

Center Credit Service Union Bankers in Richmond noted that commercial lending for mergers and acquisitions and construction remained high. Respondents in San Francisco mentioned an increase in venture capital financing.

Card Credit Service Wireless Reports on manufacturing activity remain positive. Districts describe shipments and orders as continuing to strengthen--significantly in some cases and gradually or steadily in others.

Credit Security Service Union Reports from all twelve Federal Reserve Districts indicate that economic activity continued to expand in March and the first half of April. Three Districts--Minneapolis, Kansas City, and San Francisco--characterize growth as "solid," while a number of others describe the rate of economic activity as "modest," "moderate," or "steady." Richmond notes a quicker pace of growth, and Dallas indicates that activity continued to strengthen. By contrast, New York says the rate of growth may have slipped a bit since the last report.

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