As has been the case for much of the year, economic growth remains "modest" or "moderate," according to the latest Beige Book report released Wednesday.
The Kansas City Fed District, which "reported only slight growth in December," the report said.
But, most contacts in that district, along with several others, "expect somewhat faster growth over the coming months."
Dallas saw a slight slowing in the mid-November through late December period, and "several contacts expressed concern about the effect of lower oil prices on the District economy."
Consumer spending, travel and tourism, and manufacturing activity grew in most districts. Auto sales gains were moderate to strong.
"The pace of growth of demand for nonfinancial services varied widely across Districts and across sectors, but appeared to be moderate on balance," the report said.
Residential real estate and construction were steady, while commercial real estate activity gained.
Demand for credit by businesses and consumers rose.
"Payrolls in a variety of sectors expanded moderately during the reporting period," the report said. "Significant wage pressures were largely limited to workers with specialized technical skills."
Prices seemed slightly higher in most districts.
