Subscribe to Breaking News emails

You have successfully subscribed to the Breaking News email.

Subscribe today to be the first to to know about breaking news and special reports.

Economy Improving Across the Country, Fed Says

Breaking News Emails

Get breaking news alerts and special reports. The news and stories that matter, delivered weekday mornings.

A relatively upbeat Federal Reserve said Wednesday that economic growth increased across the country over the past two months.

The Fed said growth was "moderate" to "modest" in all 12 Federal Reserve districts, in its “Beige Book” release, which details economic projections from the central bank's members.

Among its findings:

  • Employment prospects "generally strengthened" across the country, though some districts reported a shortage of skilled workers.
  • Real estate conditions were "mixed" even as home prices continued to rise, while "lack of inventory" was cited as one reason for slow sales.
  • Price pressures were "subdued," despite the latest figures from the Bureau of Labor Statistics showing broad-based price increases for food and produce, and gas prices that remain stubbornly high despite predictions they soon would decline.
  • Auto sales were brisk, as confirmed by major automakers in figures released this week.

Broadly speaking the report confirmed statements from Fed Chair Janet Yellen and other officials who have touted the pace of the post-recession economy.

"Consumer spending expanded across almost all Districts, to varying degrees," the report stated. "Non-auto retail sales grew at a moderate pace across most of the country."

In its previous Beige Book report in mid-April, the Fed said the economy had started to rebound from weather-related declines earlier in the year.

Breaking News Emails

Get breaking news alerts and special reports. The news and stories that matter, delivered weekday mornings.

Breaking News Emails

Get breaking news alerts and special reports. The news and stories that matter, delivered weekday mornings.
MORE FROM news

Have feedback?

How likely are you to recommend nbcnews.com to a friend or colleague?

0 = Very unlikely
10 = Very likely
Please select answer

Is your feedback about:

Please select answer

Leave your email if you’d like us to respond. (Optional)

Please enter a valid email address

Thank you!

Your feedback has been sent out. Please enjoy more of our content.

We appreciate your help making nbcnews.com a better place.