(See the BLUE BOX for the latest Key Economic Statistics.)

ECONOMIC GROWTH IS WIDESPREAD, ALTHOUGH MODEST, ACCORDING TO BEIGE BOOK. The Federal Reserve released its June 2010 Beige Book showing that economic activity throughout the country continued to expand in April and May (read more here).

RETAIL SALES SLOW WITH DROP IN SALES OF BUILDING MATERIALS. Retail and food service sales fell in May from the upwardly revised April numbers by 1.2 percent to $362.5 billion, according to advance estimates released by the Census Bureau (read more here).

CLAIMS FOR UNEMPLOYMENT INSURANCE REMAIN HIGH. The Department of Labor reported that 456,000 unemployed workers filed new unemployment insurance claims through state programs during the week ending June 5, 3,000 fewer than during the preceding week (read more here).