Beige Book Finds Growth Is Picking Up the Pace

WASHINGTON — Economic activity expanded at a moderate pace during December, with strong retail sales and increased demand for professional services indicating “ongoing improvement in economic conditions.” according to the Federal Reserve Board’s Beige Book report, released Wednesday.

The report noted “significant gains in holiday retail sales compared with last year’s season,” especially in the New York and Dallas districts, which described sales as “brisk” and “robust.”

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