US economy emerges from winter freeze: Fed's Beige Book

Shoppers take advantage of sales on November 29, 2013 in New York CityThe US economy is showing clear signs of emerging from the brutal winter, with consumer spending picking up broadly, the Federal Reserve’s Beige Book survey said Wednesday. “Economic activity increased in most regions” of the country since the prior Beige Book in early March, the report said, with “modest or moderate” expansion in most of the Fed regions surveyed. The latest Beige Book review of economic conditions, used by the central bank in formulating monetary policy, covered mid-February through March, capturing still-severe winter weather effects that began to fade last month. The health card for the world’s largest economy showed that consumer spending, the lifeblood of growth representing two-thirds of US activity, strengthened.

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