WASHINGTON — Economic activity expanded at a "measured pace" in recent weeks, though the effects of Hurricane Sandy and the looming fiscal cliff created some disruption and uncertainty, according to the Beige Book, released by the Federal Reserve Wednesday.

Of the twelve Federal Reserve districts, Cleveland, Richmond, Atlanta, Chicago, Kansas City, Dallas, and San Francisco all reported "modest" economic growth, while St. Louis and Minneapolis "indicated a somewhat stronger increase in activity." Boston reported slower growth, while New York and Philadelphia both reported economic weakness either directly attributed to or exacerbated by the hurricane.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.