Fed Report Shows Continuing Economic Growth

Washington, DC, March 4, 2011 -- The U.S. economy expanded in January and early February in all parts of the country, according to the Federal Reserve's "Beige Book" report.

The Fed survey also revealed that businesses reported they are under pressure to raise their prices.

The survey showed that all 12 of the Fed's regions reported growth at a "modest to moderate pace" and it pointed to a pickup in job creation in each. Many districts reported improved hiring in the manufacturing and health care industries.

Retail sales also grew in 10 of the 12 regions.

Costs are rising for manufacturers and retailers in most areas and there are signs those costs may be passed on to customers.

Housing remains the economy's main weak spot, according to the report.

"Overall sales and construction remained at low levels across all districts," the survey said.