WASHINGTON -- The Federal Reserve said today that the U.S. economy continued to grow from mid-October to mid-November. Of the 12 Fed districts surveyed nationwide, 11 said their economies expanded since the previous report, even though consumer spending was uneven across the board, the Fed said in its latest beige book report of the country's economy.
The beige book provides a snapshot of the U.S. economy on a regular basis.
Manufacturing and service sectors saw an increase in activity, while residential real estate "generally remained at high levels," the Fed said. Non-residential activity, meanwhile, was "still sluggish in many areas ... (but) appeared to be turning in the corner in several districts."
The agricultural sector was expected to produce a large or even record crop production during the next few months, the Fed said.
