Fed’s Beige Book: ‘Mostly modest’ US economic growth

WASHINGTON, D.C.: Most of the regions in the US economy were growing only modestly during the April-May period, with lackluster consumer spending, according to the Federal Reserve’s Beige Book survey on Wednesday (Thursday in Manila).

But the report noted that the outlook in a number of areas was “generally optimistic,” and labor markets were tighter, a likely positive sign for future wage increases for workers.