Fed’s ‘Beige Book’ Says Economy’s Stronger

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The pace of U.S. economic activity continued to pick up in most of the country in late November through early January, the Federal Reserve said on Wednesday.


Eleven of the 12 regional districts showed economic activity as expanding, the Fed said in its survey, called the “Beige Book” because of the color of its cover. The Cleveland district, however, reported that activity in its region was mixed.


The Fed said that consumer spending was generally higher in the six weeks since it issued its previous report on Dec. 1, and many districts had stronger holiday sales than one year ago.


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