OCR Text |
Show Magazine Reports J Upward Trend Throughout Area After recovering- from a brief hesitation in July, due in part to the effects of the steel strike, business bus-iness activity in this area has re- I sumed its upward climb, accord- ing to the September issue of the 1 Monthly Review of the Federal , Reserve Bank of San Francisco. 1 The related fields of residential construction and the lumber and plywood industries are the major I exceptions in this picture. Mortgage Mort-gage money tightness and increased increas-ed construction costs are the main factors in the lowered level of housing activity. Some easing of mortgage credit terms, especially on moderately priced homes, has been announced by the Housing and Home Finance Agency; but this is not likely to have any significant sig-nificant effect on new housing starts in the immediate future. |