STRICTLY BUSINESS: DON'T FORGET THAT FAVORITE CAT OR DOG

Every year something new comes down the pike for those favorite pets, including toys, food, clothes and safety items.

In the latter category, pet owners can now purchase a pet car seat that adjusted to different heights to allow the pet to see out of the vehicle's window. A safety harness keeps the dog or cat in place.

Another item of protection, which has been around for a long while, are name tags, round or flat, which may be attached to the pet's collar, with the owner's name and address.

In the toy line, there is the battery-operated, faux fur mouse that scoots across the floor at breakneck speed, giving even fast cats or dogs a run for their money.

One of the latest items on the pet list is "A Cookbook for Fido," which includes recipes of puppy treats and dog biscuit cutters.

Although Fido won't be able to follow the recipes, his master will. Included in the cookbook are recipes for "Sniff N'Bite Biscuits," and "Flea Fighter Fingers."

Also in the food line are Doggie Treat Holiday Gift baskets with 30 doggie cookies;

Clothing is always big on pet owners' lists (I don't know about the pets).

Clothing items include a thermal warmth pooch parka, holiday style sweaters, leopard print jackets, beaded poly/cotton T-shirts, complete with lace, and even piddle-pants.

Catalogs abound with pet gifts, The "Pedigrees" catalog is designed for pets and people who love pets, and "The Humane Catalog" offers a number of items, mostly for the pet owners.

Regional economics

Economic growth slowed during the past month in many parts of the United States but is holding its own in others, reflecting a crunch at factories producing exports, the Federal Reserve said late last week.

Growth has slowed in five of the Fed's 12 regions, including the St. Louis District that includes portions of seven states, including Missouri.

The information collected for the Fed's districts are included in a survey known as the "Beige Book," after the color of its cover.

The "Beige Book" is a report on economic developments throughout the United States. The St. Louis District Beige Book reports on portions of Arkansas, eastern Missouri, southern Illinois and Indiana, western Kentucky and Tennessee and northern Mississippi.

The book, issued every eight weeks, is not an in-depth report, but the Federal Reserve uses it as a tool to determine monetary policy.

Economic growth expansion has slowed in St. Louis, Atlanta, Boston, Dallas and Kansas City districts and remains unchanged in Chicago, Minneapolis, Richmond and San Francisco districts

The only district with strengthened growth was in the New York District.

"Consumer spending was up, but several districts said sales were weaker than expected," it said. "Manufacturing activity was generally softer, mostly due to output declines in export-related industries."

The district bank in Philadelphia reported "healthy economic conditions, although weakness persists in manufacturing," and the Cleveland bank said its economy shows similar mixed growth patterns.

On the plus side, the Fed said stronger consumer confidence and lower interest rates have spurred home building, mortgage refinancing and a rebound in commercial construction.

Labor markets tight

Labor markets remained tight, meaning unemployment was low in almost all districts.

On the negative side, some districts report that some manufacturers were expecting further reductions in output and low prices, and weak exports continued to hammer the natural resource and agriculture industries."

Last week's report, compiled from information submitted by the Fed's business contacts before Dec. 1, will be considered along with other information on the economy at a Dec. 22 meeting of Fed policy-makers.

Policy-makers have cut short-term interest rates three times over the seven weeks between Sept. 29 and their last meeting on Nov. 17. Most economists believe the Fed won't make a change at the next meeting.

But if further evidence emerges of the Asian economic slump hurting the U.S. economy, the central bank may cut rates again early next year, economists said.

The St. Louis (8th) District still reports tight labor markets, but retail contacts in the district have been generally optimistic about the holiday retail season.

The latest Manpower survey suggests a slight pullback in hiring plans for the first quarter of 1999, compared with a year earlier.

Housing markets remain strong, and the agriculture fall harvest is complete in all states. Corn yields were up, soybeans are off slightly, and cotton products is down in Missouri, Arkansas and Tennessee, due to reduced acreage.

In other 8th District news, loan demands appear strong at large district banks.

Auto sales were up about 5 percent throughout the district in November, some chemical and farm implement dealers report sales are down, due largely to low commodity prices.

B. Ray Owen is business editor for the Southeast Missourian.