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Fed sees improvement in US economy

01-12-2012 07:26 BJT

The US Federal Reserve has confirmed that the pace of economic activity around the country is picking up. A Fed report released Wednesday showed strong consumer spending at the end of last year.

The new survey sketched a bright picture, with expansions in manufacturing meaning more goods being produced in factories.

Americans also travelled more and the auto industry enjoyed its best stretch of the year. But the Fed said that some sectors of the economy, notably housing, remain weak.

The survey is known as the Beige Book. It was based on economic information supplied by the Fed’s twelve regional banks and collected during the reporting period from late November through the end of December.

 

 

Editor:Zhang Rui |Source: CNTV.CN

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