Economy Gets a Boost from Christmas Sales

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Economic growth picked up in December, thanks to a boost from Christmas sales.

The Federal Reserve's Beige Book said the economy is still growing at a modest pace but not enough to help improve the job market.

"Reports from the 12 Federal Reserve districts indicated that economic activity has expanded since the previous Beige Book report, with all 12 districts characterizing the pace of growth as either modest or moderate," the report stated.

It also said some home prices across the country are rising. Some analysts believe the housing industry is finally rebounding, which they say can be a bright spot, especially with unemployment levels relatively unchanged.

Overall, economists expect growth to be roughly the same this year as it was in 2012.

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