Golden Finance reported that U.S. economic activity grew at a "slight to moderate" pace in late November and December, driven by strong holiday sales, the Federal Reserve said in its Beige Book report, which surveyed regional business contacts. The report showed slight gains in employment overall, with half of the 12 Fed districts reporting a slight increase in hiring and six districts remaining flat. "Contacts in some service industries - particularly health care - see continued job growth," the report released Wednesday said. Manufacturing employment, however, was flat. Prices meanwhile rose "generally moderately". "Contacts in most regions reported moderate increases in sales prices, but there were also instances of flat or declining prices, particularly in retail and manufacturing," the report said. The Beige Book report, compiled by the Chicago Fed based on information collected on or before January 6, includes anecdotes and commentary on business conditions in the 12 Fed districts. The report noted that the information collected was before the recent wildfires in the Los Angeles area.