(MENAFN) According to the Federal Reserve, US economic activities continued to expand between mid-November and late December, but some oil producing areas saw signs of slowdown, Xinhua reported.
In the Fed's latest survey, most districts reported a moderate pace of growth, with expectations of a faster growth over the upcoming months. Kansas was the only district that reported slight growth decline.
Consumer spending rose in most districts and all retail sales generally recorded modest annual gains, while employment in a variety of sectors expanded moderately during the cited period.
Despite the fact that low oil prices will give boost to consumption, it has started to affect some oil-producing areas, as oil drilling activity in Kansas declined, and the energy sector is expected to slow further.
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