All 12 Federal Reserve Districts saw economic growth in June, the Beige Book, released Wednesday indicated.

Activity gains were "modest to moderate" in 10 districts, with Philadelphia reporting "slight" growth and Cleveland "less positive," the report noted.

Most districts expect growth to be modest to moderate in the near future.

Federal Reserve building in Washington, D.C.
Federal Reserve building in Washington, D.C. Bloomberg News

“Consumer spending appears to be rising across a majority of Districts, led by increases in nonauto retail sales and tourism,” the Beige Book noted. “However, many Districts noted some softening in consumer spending, particularly in auto sales which declined in half of the Districts.”

Manufacturing and nonfinancial services expanded at a “modest to moderate” pace.

“Loan demand was steady to increasing in most Districts,” the report said.

Construction was termed “flat to expanding in most Districts.”

Home sales were constrained by lack of homes for sale, according to the report.

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