WASHINGTON: The US economy continues to grow at a "modest to moderate" pace, with wages and prices restrained, the Federal Reserve's Beige Book regional survey showed Wednesday.
Manufacturing as well as services continued to expand across most of the Fed's 12 districts, the report said, underpinned by strengthening residential construction, and bank credit grew as well.
Hiring "increased at a measured pace in several districts," the Fed said, while wage pressures "remained contained overall" despite rises in certain jobs.
"Districts reported level prices to mild price increases; some manufacturers raised prices and some increases for input prices were noted."
Manufacturing as well as services continued to expand across most of the Fed's 12 districts, the report said, underpinned by strengthening residential construction, and bank credit grew as well.
Hiring "increased at a measured pace in several districts," the Fed said, while wage pressures "remained contained overall" despite rises in certain jobs.
"Districts reported level prices to mild price increases; some manufacturers raised prices and some increases for input prices were noted."
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