The latest 'Beige Book' [1], this one put together by the Federal Reserve Bank of Atlanta, indicates that economic activity expanded from mid May into June.

Reports from all twelve Federal Reserve Districts point to an increase in economic activity across the US.

Despite an overall positive message, results were mixed. For example, low energy prices helped some districts to increase spending but some border districts were adversely affected by the strengthening dollar. Trucking was weak in Philadelphia, but it was steady in Dallas.

Real estate however seemed relatively healthy across the board with prices appreciating and home sales increasing in most districts except for Philadelphia and Dallas where they were mixed and in New York where sales declined. Automobile sales were also good in most districts and tourism expand in all districts except New York.

Atlanta USA (PD)The Beige Book also reported that consumer spending had increased across all districts since the last report. Lending activity had also increased with home loans and auto loans rising in several districts. Employment levels mostly increased or were steady.

Nonfinancial professional and business services as well as IT and healthcare 'indicated moderate growth' said the report.

The full Beige Book can be found here.

[1] The Summary of Commentary on Current Economic Conditions (or the 'Beige Book' as it is commonly known), is published eight times a year by a designated US Federal Reserve Bank on a rotating basis in advance of meetings of the Federal Open Market Committee (FOMC). The book is a summary of anecdotal evidence gathered across the US districts via reports from 'Bank and Branch directors and interviews with key business contacts, economists, market experts, and other sources'. The next Beige Book will be published on Wednesday 2nd September 2015.

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