Here's what the Fed said in the most-recent Beige Book

Beige book prepared by Federal Reserve Bank of Chicago with data collected on or before April 7

• Manufacturing increased in most districts
• Consumer spending increased modestly in most districts.
• Labor market conditions continue to strengthen
• Credit conditions improved in most districts.
• Lending environment, competitive, margins, compressed.
• Low prices weighed on energy and mining outputs
• Business spending, real estate activity expanded.
• Retailers generally optimistic about Outlook for 2016
• Wages gained in every district except Atlanta. Several reported signs of pickup in wage growth
• consumer spending increased modestly in most districts; auto sales strong in several districts.
• Difficulty filling certain low and high skilled jobs in several districts.
• Activity and healthcare sector grew at solid pace in a number of districts
• Districts reporting on inventories indicated they were generally in line with sales.
• Capital spending increased in most districts with scattered reports of capital spending for capacity expansion

Here is the full text.