Federal Reserve

Beige Book: Economic growth increases in all 12 districts

Fed's Beige Book

Economic growth increased in all 12 Federal Reserve districts, a relatively upbeat Fed Beige Book showed on Wednesday.

The pace of growth was described as "moderate" to "modest," according to the release, which details economic projections from the central bank's members.

Employment prospects "generally strengthened" across the country though some districts reported a shortage of skilled workers. Real estate conditions, meanwhile, were "mixed" even as home prices continued to rise, while "lack of inventory" was cited as one reason for slowness in sales.

Read MoreNot-so-high hopes: Why economy will disappoint

The report also described price pressures as "subdued," despite the latest figures from the Bureau of Labor Statistics showing broad-based price increases for food and produce, and gas prices that remain stubbornly high despite predictions they soon would decline.

Broadly speaking the report confirmed statements from Fed Chair Janet Yellen and other officials who have touted the pace of the post-recession economy.

"Consumer spending expanded across almost all Districts, to varying degrees," the report stated. "Non-auto retail sales grew at a moderate pace across most of the country."

Read MoreForget the plastic,cash is still king

For auto sales, the pace was brisk, as confirmed by major automakers in figures released this week.

"New vehicle sales were generally described as robust in the latest reporting period, while sales of used cars and trucks continued to lag," the Fed said. "Auto dealers generally expressed optimism about the near term outlook."

Read MoreClick here to get the full report

(What are the latest estimates for economic growth this quarter? Click here)

In its last Beige Book report in mid-April, the Fed said the economy had started to rebound from weather-related declines earlier in the year.

Read More First rate hikes July 2015: Survey