Fed: U.S. Economic Growth Healthy Over Holidays

wochit business
January 15, 2014 AT 10:17 AM
A Federal Reserve survey shows economic growth remained healthy in most U.S. regions in late November and December, helped by gains in consumer spending and factory output. The Fed says nine of its 12 banking districts described growth as moderate, up from seven in last month's report. Two of those districts said growth had accelerated since the previous report. Only two districts -- Boston and Philadelphia -- said growth was modest, while Kansas City said it "held steady." And all but Kansas City said manufacturing production grew. PNC's senior macroeconomist Gus Faucher says 2014 will bring all sorts of good tidings: