Beige Book: Most Expect Faster U.S. Growth In Coming Months

(RTTNews) - The U.S. economy continued to expand at a "modest" or "moderate" pace in the final weeks of 2014, according to the Federal Reserve's latest Beige Book.

The Beige Book, a collection of anecdotal information from around the Fed's 12 districts, said most respondents expect somewhat faster growth over the coming months.

Consumer spending increased in most districts, with generally modest year-over-year gains in retail sales. Auto sales showed moderate to strong growth, and manufacturing grew.

Housing market activity continued to increase at a modest pace since the previous report. However, realtors in some locations reported slower buyer traffic and a slight decrease in housing inventories.