US economy expanded in recent weeks: Fed

Economic activity across the United States expanded at either a moderate or modest pace in recent weeks with consumer spending picking up, the Federal Reserve said on Wednesday, suggesting little change in terms of the recovery’s strength.

The US central bank painted a cautiously positive picture of an economy gathering steam across its 12 districts, although businesses and consumers were wary due to uncertainty over fiscal policy and conditions on the other side of the Atlantic.

via Business feed http://www.scmp.com/business/economy/article/1129988/us-economy-expanded-recent-weeks-fed