Note: This is based on information collected on or before July 19, 2010. From the Federal Reserve: Beige book Economic activity has continued to increase, on balance, since the previous survey, although the Cleveland and Kansas City Districts reported that the level of economic activity generally held steady. … Manufacturing activity continued to expand in most Districts , although several Districts reported that activity had slowed or leveled off during the reporting period. Districts also noted improved conditions in the services sector. … Reports on retail sales during the early summer months were generally positive, although in most Districts the increases were modest. And on real estate: Nearly all Districts reported sluggish housing markets in the months since the homebuyer tax credit expired on April 30 . While some Districts, such as Boston and St. Louis, reported an increase in May and June home sales on a year-over-year basis, some contacts noted that these sales may reflect closings of homes under contract by the April tax credit deadline.

Read more here – Fed’s Beige Book: Activity continued to increase, "steady" in some districts