more-arw search

Federal Reserve Survey: 2011 Ended with Economic Strength

Federal Reserve Survey: 2011 Ended with Economic Strength

While the 2011 economy was characterized by a slow - if not stunted - recovery from the recession, a recent Federal Reserve survey points to the positive notion that the year ended with signs of strength.

The Associated Press reports the survey noted all but one of its 12 banking districts grew from late November through the end of the year, while consumers upped spending, travel increased, the auto industry experienced an uptick and factories began to produce more.

Brian Bethune, a professor of economics at Amherst College in Massachusetts, told the news source that the results of the survey were likely better than most had anticipated.

"It has been quite a while since we have seen the Fed use words like vibrant and robust to describe any part of the economy," Bethune noted. "I think one of the things driving the stronger language is that things are better than the Fed had been expecting."

The Wall Street Journal reports holiday sales helped buoy the economy in all regions of the country during the final six weeks of 2011.