Dive summary:

• The somewhat informal report from the Federal Reserve Bank, the "Summary of Commentary on Current Economic Conditions," says most of the bank's regions say home sales and home building are going up, but prices are rising because the demand is exceeding supply.
• The official pronouncement is that economic growth from February through early this month was "moderate."
• The report in the Fed's "Beige Book" comes as the International Monetary Fund is predicting annual economic expansion of 3.3% globally, which is down two-tenths of a percent from what it predicted in January.

From the article:

Manufacturing activity was up, according to the Fed, with particular strength in industries tied to residential construction and cars. ...