According to the latest edition of the Federal Reserve's Beige Book, a report published eight times per year that gathers information on current economic conditions in twelve districts including New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Louis, Minneapolis, Kansas City, Dallas, and San Francisco; overall economic activity increased somewhat since the last report in March across all Federal Reserve Districts except St. Louis, which reported "softened" economic conditions. Districts generally reported increases in retail sales and vehicle sales. Manufacturing activity increased in all Districts except St. Louis, and new orders were up. While labor markets generally remained weak, some hiring activity was evident, particularly for temporary staff.
Vehicle sales improved in a number of Districts during March. New York, Philadelphia, Atlanta, Chicago, St. Louis, Minneapolis, Dallas and San Francisco noted that auto sales picked up in recent weeks. Cleveland described sales as decent, while sales were steady in Kansas City and mixed in Richmond. Dealers in Philadelphia indicated that they expect sales to increase during the next few months.
Manufacturing activity increased since the last report across most of the country, with all Districts other than St. Louis reporting increases in orders, shipments, or production. Boston, Cleveland, Chicago, Dallas and San Francisco reported positive results in metals and fabrication. Cleveland, Richmond, Atlanta and Chicago reported increased auto or auto component production.
Residential construction activity increased slightly in New York, Atlanta, St. Louis, Minneapolis and Dallas, but remained weak in Cleveland, Chicago and San Francisco. Commercial construction continued to be weak in most Districts. Cleveland saw some development in the energy and industrial segments.