The U.S. economy kept expanding from mid-October to mid-November, picking up speed in several regions, the Federal Reserve said today.

“Reports from the 12 Federal Reserve districts generally paint a picture of continued economic growth from mid-October to mid-November, with a number of areas improving,” the Fed said in its latest “beige book” report.

The report says that the New York and Philadelphia Fed Districts reported a noticeable pickup in the securities industry since the last report. “In the Philadelphia District, investment companies and stockbrokers have received strong cash inflows, and some securities firms are raising staffing levels,” it notes.

“The New York District saw increased inflows into equity mutual funds, and the investment banking community reported a pickup in stock issuance and especially in merger and acquisition activity,” the report adds.

The securities business aside, reports from the 12 Federal Reserve Districts generally paint a picture of continued economic growth from mid-October to mid-November, with a number of areas improving, the report notes. Indeed, 11 of the 12 districts reported expanding economic activity. Only the Cleveland District reported little change in economic activity.

“Overall consumer spending was uneven since the last Beige Book, with only a few districts reporting stronger retail sales and many noting mixed, flat or slower sales,” it notes, adding that auto sales were flat to down and several districts reported higher dealer inventories than desired.

“In contrast, manufacturing and service sector activity increased across the country. Residential real estate activity generally remained at high levels, but continued to show signs of cooling in a number of districts,” it says. “Nonresidential activity, while still sluggish in many areas, appeared to be turning the corner in several districts.”

In credit markets, business lending was strengthening, but the pace of consumer and mortgage lending was mixed across the country, the report explains.

Many agricultural producers across the country said they were looking forward to large or record crop production. Energy-related activities remained strong, too.