WASHINGTON (June 6, 2013) — Overall economic activity in the 12 Federal Reserve districts increased at a "modest to moderate" pace in May, according to the Fed's latest Beige Book.
The one exception to the modest rate of growth was the Dallas district, which showed strong economic growth, the Fed said.
Manufacturing and residential construction strengthened in most districts, according to the monthly report summarizing current economic conditions. Consumer spending, however, increased only slightly to moderately, though vehicle sales were strong in New York, Richmond and San Francisco, the Fed said.
Transportation activity increased everywhere except Kansas City, which suffered adverse weather conditions. Bank lending increased modestly in most areas, and agriculture remained mixed.