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U.S. Fed sees economic recovery slightly stronger

12-02-2010 09:38 BJT

WASHINGTON, Dec. 1 (Xinhua) -- The U.S. central bank saw the economic activity continued to improve at a slightly stronger tone, according to the latest Federal Reserve survey released on Wednesday.

The snapshot of economic conditions found that five of the 12 Fed districts noted that "at a slight to modest pace."

In addition, several districts said their expectations of future business activity improved at "somewhat stronger pace."

The survey, known as the Beige Book, was based on economic information supplied by the Fed's 12 regional banks and collected during the reporting period from early/mid October to mid-November.

The U.S. central bank reported manufacturing activity continued to expanding almost all districts, with relatively strong growth seen in metal fabrication and the automotive industries.

The report also found that consumer spending, which accounts about 70 percent of the overall economy, tended to be positive.

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