economy expanding at a moderate pace: Fed
The US economy continued to grow at a moderate pace from late November through the end of 2013, with some regions of the country expecting a pick-up in growth, the Federal Reserve said on Wednesday.
In its Beige Book report of anecdotal information on business activity collected from contacts nationwide, the US central bank said two-thirds of the 12 districts reported increases in hiring.
“The economic outlook is positive in most districts, with some reports citing expectations for ‘more of the same’ and some expecting a pick-up in growth,” the report said.
The findings were broadly in line with economic data ranging from consumer spending to industrial production that have showed a building up of strength in the economy in late 2013.