The Texas economy grew at a “modest” pace from mid-October through late November — about the same as the rest of the country as we gear up for the holidays, according to a statewide economic snapshot released today by the Federal Reserve.
Overall, economic activity increased at a “modest” pace in 10 of the Fed’s 12 districts nationwide during the six-week period, according to the Fed’s Beige Book report. Growth in the New York district leveled off and the Boston District saw somewhat slower growth. Consumer spending increased in nearly all districts, except New York.
While the Fed report is not stellar, it is good — more in a stream of recent data showing the the U.S. economy is strong and steady. In addition, Federal Reserve chairwoman Janet Yellen in a speech today set the stage for an interest rate hike later this month, something many economists have been expecting.
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