-->WASHINGTON (Reuters) - Economic recovery gathered steam in recent weeks as consumers kept shopping and the long-ailing manufacturing sector flexed a little muscle, the Federal Reserve said Wednesday.
"Reports from the 12 Federal Reserve districts indicate the economy continued to improve in July and August," the Fed said in its"beige book," an anecdotal snapshot of economic conditions across the country.
The assessment, based on information gathered from an extensive network of business contacts, said 11 of the Fed's regions saw economic gains over the summer, with consumer and manufacturing activity rising in most areas.
The report also said five of the Fed's districts mentioned the mid-August electricity blackout that affected much of the Northeastern United States, as well as a large swath of the Midwest, but that the effects"were generally small."
cnn.com
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