Beige Book Shows Growth Moderate

U.S. economic activity continued to grow moderately, generally speaking, between mid-October and November, the Federal Reserve said Wednesday in its regional survey known as the beige book.

The report, published for the eighth and final time this year, summarizes business activity in the Fed's 12 districts. While most reports characterized growth as moderate, two districts reported that economic growth actually accelerated. A couple said the pace of activity decelerated or was mixed.

Consumer spending increased in a number of districts, although several reports continued to say that home-related and automobile sales were sluggish. In addition, the report said that districts were cautiously optimistic in their holiday retail sales outlook. ...