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BLOOMBERG Bloomberg Bottom Line July 16, 2014

Before july 7. All 12 districts reported Economic Activity continued to expand since the last beige book. Characterized the growth as moderate. The other seven, modest. Boston and richmond saw a slightly slower pace of growth. Consumer spending helping to drive much of that growth come especially in car sales and tour is him. Consumer spending continued to increase at a moderate pace since the Previous Report with generally modest growth among nonauto retailers and moderate to strong growth in be cool sales and tour is an activity. ,or districts reported robust very strong auto sales with more optimism from all districts for the months ahead. This is interesting. Richmond mentioned that recalls were weighing on car sales while chicago noted an increase thinks to the recall. Other highlights, tourism activity increased across all districts. The same story for manufacturing. A different one for real estate. There is the beige book saying Residential Real Estate continued to vary by distr

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