Fed Beige Book reveals moderate economic growth, more hiring

The US economy experienced moderate growth the past two months and hiring showed signs of a "modest increase," according to a new Federal Reserve survey, tempering a spate of gloomy data released last week.

The agency's latest "Beige Book" shows growth in each of its 12 bank districts from April 3 through May 25. Growth was moderate or modest in 10 districts, steady in the Boston district, and slowed in the Philadelphia region, The Associated Press reported.

More from GlobalPost: US consumer confidence in jobs, economy falls in May

Hiring was steady and manufacturing continued to expand in most districts, with particular strength in the auto and steel industries, the Wall Street Journal reported.

Manufacturing and home sales improved in most districts. Businesses sought more loans, but consumer spending was flat to only modestly positive in almost all districts, according to the AP.

More from GlobalPost: Unemployment rises to 8.2% in May

The Fed's previous Beige Book assessment of the economy, released on April 11, painted the economy in a more timid light, according to Reuters.

And the government's latest jobs report last week brought dour news, stating that employers added the fewest jobs in a year in May. The jobless rate also edged up to 8.2 percent, according to the AP.

Earlier Wednesday, Federal Reserve Bank of Atlanta President Dennis Lockhart said economy may need another boost by the agency due to intensifying worries over Europe, the Financial Times reported.

If modest economic growth no longer seems realistic, "further monetary actions to support the recovery will certainly need to be considered," he said.