The US economy continued to grow on a generally solid track but with some pressures from high energy costs and a cooling of real estate in some areas, the US Federal Reserve (Fed) said in a report released on Wednesday.

"Economic activity continued to expand from mid-October through mid-November," said the Fed's Beige Book, based on economic reports from its 12 regional Federal Reserve Banks.

The Fed said retail sales, which account for about an half of US consuming spending, "increased in most districts, but many banks reported only modest year-over-year gains."

Consumer spending accounts for about two-thirds of the US gross domestic products (GDP) and is the lifeblood of the economic growth.

"Consumer price pressures increased moderately in some districts, with mixed reports on firms' ability to pass through input prices to consumers," the report said.

"Generally, residential real estate market activity remained high, but many districts reported a slowing or cooling of activity; many districts also noted strengthening activity in commercial real estate markets," the report said

The Beige Book is a main base for the Federal Open Market Committee--US Fed's policy-making body--to decide the monetary policy in the meeting to be held on December 13.

Source: Xinhua