Is the recession ending in Louisville?

KYEstates readers – you may find this Business First summary of the Fed’s most recent “Beige Book” interesting.  Although the detailed report contains mixed signals, overall, it does suggest that as we exit an unusually cold and snowy winter, we may also be starting to exit our Winter of Discontent, the Great Recession.

In the Eighth District (our Fed District):

Activity in the … manufacturing sector has picked up since the fourth quarter of 2009, but the service industry and retail sales were down. Automobile sales were even with the same period a year earlier. Commercial and industrial real estate markets “remained slow,” and residential real estate activity was mixed, according to the report.

Overall lending at a sample of large banks in the Eighth District declined moderately in the fourth quarter of 2009 compared with the year-earlier period, according to the report.

We’re heading into the spring home sale season, and again, the news is mixed, but decent: December year to date home sales were up 3 percent in Louisville (even though housing permits were down 15% year to date).

It is long past time for economic improvement in our area, and KYEstates welcomes this good news.  Readers, we hope you had a great weekend.  The weather was good for sculling and pleasant for the Speed Ball (for update, visit here).