While the U.S. economy as a whole improved in June, economic activity in the Southeast was mixed. The D6 Factor, a broad measure of economic conditions in the region, fell on a monthly basis and increased 0.12 point year over year. The index, while still in negative territory, "appears to be stabilizing," said the August Data Digest, a monthly report produced by the Atlanta Fed's Regional Economic Information Network (REIN).
The region's labor market also made mixed progress. Georgia, Florida, and Tennessee have continued along the path of tepid gains in total employment, while the other states have either stalled or experienced slight declines. Meanwhile, half the states had June unemployment rates above the national average of 8.2 percent.
The region's construction and real estate sector continues to improve slowly. The Atlanta Fed's monthly survey of residential builders and brokers reported that sales activity in June was ahead of year-earlier levels and inventories had declined during the same period. Both groups also reported stronger buyer traffic than a year ago and a more positive outlook for year-over-year sales for the next several months.
For more in-depth information about the Southeast economy, be sure to read the full Data Digest.