Housing Recovery Helps Fuel Economic Gains
Washington, DC, March 7, 2013 -- The housing recovery along with increased auto sales and employment gains helped the economy grow in January and February, according to the Federal Reserve's Beige Book report.
The Fed said 10 of its 12 banking districts reported moderate or modest growth, while the Boston and Chicago districts reported slow growth.
Consumer spending increased in most regions, driven by auto sales, but consumers pulled back in other areas. Many districts said that consumers pulled back slightly on spending in sectors other areas.
Housing markets showed more strength in nearly all parts of the country, as did manufacturing.