The US economy is gaining strength from holiday sales and a robust housing market, producing a modest
rise in jobs, the Federal Reserve's Beige Book survey showed today.
The report, which is published eight times a year, summarises information from the US central bank's 12 districts on current economic conditions.
The report showed that along with the increase in overall economic activity, many districts reported modest improvements in labor markets.The Federal Reserve said : 'The recovery was supported by generally positive holiday sales, accelerating manufacturing activity and a still strong housing market'.
Activity in the farm and energy sectors was mostly steady "although the appearance of mad cow disease created considerable uncertainty in the cattle industry," the Federal Reserve said.
