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Economy weakens in low-to-moderate-income communities

Economic and financial conditions in the Tenth Federal Reserve District's low- to moderate-income (LMI) community continued to weaken in the second quarter, according to the latest results of the Federal Reserve Bank of Kansas City's quarterly LMI Survey.

The survey's broadest measures of the financial health of the LMI community remained well below neutral, despite a moderating job outlook and some improvement in the survey's affordable housing index. Lingering pessimism among some survey respondents may be reflected in their general assessments of the financial status of the LMI community even as they recognize that specific aspects of the economy are stabilizing for their clients. Expectations were near neutral for jobs and affordable housing, but they remained subdued for the broader measures of the financial condition of the LMI population.

Click here to see the entire LMI survey, including past LMI surveys done by the Kansas City Fed.

 

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