The US economic activities improved at a "modest pace" in recent months even as labour market remained sluggish, according to the Federal Reserve.
The latest reading comes at a time when speculations are rife that the central bank might take steps to bolster the growth of the world's largest economy.
"On balance, national economic activity continued to rise, albeit at a modest pace, during reporting period from September to early October," the apex bank said in its 'Beige Book' yesterday.
The 'Beige Book' provides a snapshot of economic activities in 12 districts.
The Federal Reserve noted that manufacturing activities picked up in most of the districts whereas, "hiring remained limited, with many firms reluctant to add to permanent payrolls given economic softness".
"Housing markets remained weak with most districts reporting sales below year-ago levels... Conditions in the commercial real estate sector were subdued, and construction was expected to remain weak," the central bank said.
Despite massive stimulus measures and near-zero interest rate regime since December 2008, American economic recovery remains fragile. Moreover, unemployment rate stood at 9.6 per cent in September.
Against this backdrop, there are rising expectations of further accommodative measures by the Federal Reserve to boost the economy.
