The U.S. economy grew at a modest to moderate pace through mid-November as price pressures strengthened and the labor market tightened, a Federal Reserve survey showed.
The central bank’s Beige Book economic report, based on anecdotal information collected by the 12 regional Fed banks through November 17, said business contacts also reported a brightening view as they look ahead. The findings could help bolster the case for an interest-rate increase when policymakers next meet in two weeks.
The Beige Book’s release followed a Commerce Department report Wednesday showing the economy expanded by 3.3 percent annualized pace in the third quarter, faster than an initially reported 3 percent.
Read more in Bloomberg.