US economy growing at ‘modest’ pace

WASHINGTON, D.C: The US economy expanded at a “modest” pace in between July and late August while some slowing was recorded in two regions, the Federal Reserve’s Beige Book survey said on Wednesday (Thursday in Manila).

Comments from business contacts, economists and others across the country indicated they expect the economy to grow at a “moderate” pace in the coming months; they also said that wage pressures have been “moderate” and price increases “slight.”