Economic growth is slowly returning

The New York Fed's index of real-time data indicators shows the reversal of the economy's progress in late December and early January, but it moved upwards again last week.

Driving the news: Central bankers said the index's rise for the week of Jan. 9 was due to increases in tax withholding, fuel sales and rail traffic, which countered disappointing numbers for initial unemployment insurance claims and a decrease in electricity output.