1. Heat oven to 350 degrees F. Grease three 8- or 9-inch loaf pans. For individual gifts, grease 6 to 8 mini-loaf pans.
2. Sift together flour, baking soda, nutmeg, cinnamon and salt into medium-size bowl. Mix sugar, oil, and water in large bowl. Stir in dry ingredients. Add eggs, pumpkin and vanilla, mixing to combine; do not overbeat. Fold in nuts and raisins. Pour batter into prepared pans, dividing equally.
3. Bake in 350 degree F oven 50 to 60 minutes for large loaves or until wooden pick inserted in center comes out clean. Bake mini loaves for 40 minutes. Makes 3 (8- or 9-inch) loaf pans or 6 to 8 mini loaf pans.