WASHINGTON — A new survey by the Federal Reserve finds that 10 of the Fed’s 12 regions reported economic growth picking up.
Five regions — Boston, Cleveland, Atlanta, Dallas and San Francisco — said growth increased at a “slight to modest” pace. Another five — New York; Richmond, Va.; Chicago; Minneapolis; and Kansas City — said economic activity was increasing at a “somewhat stronger” pace.
Two regions — Philadelphia and St. Louis — reported business conditions as mixed.
All told, the new survey offered a marginally brighter picture of the economy over the past six weeks.
In the Fed’s previous survey, for instance, the regions around Philadelphia, Richmond and Cleveland had reported economic activity as mixed or steady. Atlanta and Dallas regions said growth had slowed.
Stronger production at factories helped propel growth in most parts of the country, the survey said. Makers of fabricated metals and autos and related goods saw the biggest gains.
Retailers also reported better sales in many regions.
The survey, known as the “Beige Book,” is based on information collected from the Fed’s 12 regional banks on or before Nov. 19.
