Beige Book report

The U.S. economy started the year off well with busier factories, higher retail sales, more jobs and growth in home sales. The Federal Reserve said Wednesday that all 12 of its banking districts reported some level of growth in January and the first half of February. Manufacturing output rose in all districts. Auto manufacturing, steel makers and other metal producers all reported solid growth.

The final weeks of 2011 were among the economy's strongest as Americans shopped and traveled more, ending the year with a shot of optimism for 2012. That's the bright picture the Federal Reserve sketched in a survey released Wednesday.

On tap: The Federal Reserve's next Beige Book report, which compiles anecdotal information on current economic conditions from each of the 12 Federal Reserve Bank districts, and results from Smithfield, Talbots and Men's Warehouse.