Most regions said holiday retail sales "were up noticeably over last year's season," and consumer spending and confidence have improved, the Fed said.
Macy's Inc., the Cincinnati-based retailer, last week reported a 6.2 percent increase in December same-store sales, topping analyst estimates. The company boosted its fourth- quarter earnings forecast to as much as $1.60 a share, after earlier projecting a maximum of $1.57 a share.
Commercial and industrial loans from banks have increased to $1.34 trillion as of Dec. 28, the highest since October 2009, from $1.21 trillion a year earlier. They peaked at $1.62 trillion in October 2008.