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WASHINGTON, Nov. 30 (Xinhua) -- U.S. economic activity continues to expand from early October through mid-November, as retail sales and real estate activity improve, the latest survey result released by the Federal Reserve showed on Wednesday.
"Reports from the twelve Federal Reserve Districts indicate that the economy continued to expand across most regions," said the Fed in its latest Beige Book which gauges its 12 districts' economy. However, the Richmond District cited mixed economic activity, and the New York District reported overall activity remained flat.
The survey showed that most districts expected positive outlooks, and six districts expected moderate growth in the future.
According to the survey, a majority of districts reported higher retail sales and improved residential real estate activity. Manufacturing activity was mixed. Several districts cited the strong U.S. dollar as a headwind while some reported robust demand.
Employment continued to expand, with seven districts reporting tightening labor market conditions. Districts noted slight upward pressure on overall prices, said the survey report.
In its November policy meeting, the Fed left interest rates unchanged amid uncertainty about market reactions to the outcome of the U.S. presidential election.
Fed officials, including chair Janet Yellen, said recently that the case for an interest rate hike has strengthened, signaling their preparedness to support further rate hike.
The Fed will hold its next policy meeting, also the final of the year, on Dec. 13-14. Investors widely expected the Fed would move the rates at the December meeting.
