U.S. ECONOMICS: Highlights From Beige Book
-All 12 Fed districts report economic activity expanded
-Consumer spending expanded across almost all districts to varying degrees with strong new vehicle sales reported by more than half Fed districts
-Residential real-estate activity was mixed with reports of low inventories constraining sales, especially in the Boston, New York and Kansas City Fed districts. Home prices continued to increase across the country but residential construction activity was mixed
-Lending activity increased with particular strength in New York and San Francisco
-Labor market conditions strengthened but some districts reported a shortage of skilled workers
-Manufacturing activity expanded in all 12 districts with growth especially strong in motor vehicles, aerospace and metals
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