The 12 U.S. Federal Reserve districts released their 'Beige Book' Wednesday. Issued eight times a year, the Beige Book summarizes anecdotal information on current economic conditions across the country.

According to the report, the U.S. economic activity "increased" in almost every district but remained "well below" levels before the pandemic. Consumer started spending more after "non-essential" businesses reopened.

"Retail sales rose in all districts, led by a rebound in vehicle sales," the report said. The food and beverage sectors also contributed to the improved outlook.

However, "financial conditions" in U.S. agriculture remained poor. The energy sector continued to decline due to "limited demand and oversupply," the report said.

Employment improved in most districts. The Paycheck Protection Program (PPP) helped businesses retain workers. Once that program ends, businesses warn that sluggish consumer demand could lead to more layoffs.

Prices changed "little changed overall." Some food and beverage prices climbed, especially for beef. In "multiple districts," new and used vehicle prices got a boost from "low inventories."

Many districts reported the overall economic outlook was "uncertain" due to the resurgence of COVID-19 infections. The New York Times database shows new cases increasing in "most" U.S. states.

Check out The China Report, our new weekly newsletter. Subscribe here!