Fed report: Upper Midwest economy grew in June

The region's economy grew slightly in June and early July, despite a downturn in the residential construction market and sluggish consumer spending, according to the Federal Reserve’s Beige Book report.

Tourism, commercial real estate and mining experienced growth in recent weeks, the report found. The Beige Book is compiled by the U.S. Federal Reserve based on anecdotal information.

The report also noted that labor markets weakened since it last surveyed the area in mid-June. The manufacturing, commercial construction, energy and agriculture industries saw “mixed” activity levels.

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In Minnesota, auto dealers are projecting sales will fall next year, according to the report. Leisure travel, meanwhile, appears to be holding steady.

Information technology consulting firms reported that business has fallen slightly, as business from financial services companies has begun to dry up. However, the report noted that health services firms are growing.

The Upper Midwest region covered by the Beige Book includes Minnesota, North Dakota, South Dakota, Montana and parts of Wisconsin and Michigan.