WASHINGTON — The U.S. economy was expanding in all regions of the country in the late spring, aided by strong sales of autos and other consumer goods.
In its latest survey of business conditions, the Federal Reserve said Wednesday that some of its regions reported that lower energy prices were encouraging consumers to shop and eat out more. Growing sales of homes and commercial real estate also boosted the economy.
Employment growth was solid, although some layoffs were reported in manufacturing and energy industries, which have cut back because of falling prices.
The Fed report, known as the beige book, will be used by officials when they meet July 28 and 29 to consider interest-rate policies. The Fed is not expected to start raising rates until at least September.
In the beige book, the Fed found that inflation has remained steady, with only modest upward pressure on wages outside of some positions requiring specialized skills.
