REIN data point to slow, uneven progress in Southeast economy

The latest data digest from the Atlanta Fed's Regional Economic Information Network (REIN) highlights the ongoing recovery in the Southeast.

Photo of woman holding cashAccording to the July digest, which gives a state-by-state overview of the Southeast economy, about half of the region is on par with the United States in terms of economic activity, while the other half is slightly lagging.

One measure that has improved across the region is sales tax revenues, the report says. Consumer confidence, however, was more mixed. The pessimistic outlook in portions of the Southeast seems to be shared by the region's retailers, according to the Atlanta Fed's Retail Survey. Only 44 percent of respondents expect sales to increase over the next three months, compared to 49 percent in April and more than 60 percent who expected a pickup in each of the prior three months.

Meanwhile, another Atlanta Fed poll indicated a slightly weaker outlook for home sales among the region's builders and brokers. The same survey also reported that home inventories in May were flat or down compared to the year-ago level. Brokers generally noted improved sales, while builders reported that new home sales were still at very low levels.

For more charts, data, and analysis on the southeastern economy, read the full state digests online.