US economy growing, price gains slight – Fed survey

WASHINGTON: The US economy continues to expand nationwide with only slight upward price pressures despite reports of tightening labor markets and higher wages, the Federal Reserve’s Beige Book survey said Wednesday.

All but two of the 12 Fed districts reported at least a slight increase in economic activity, with only New York seeing no expansion at all, and six reporting “moderate” growth and four describing it as “modest.” But the strong dollar is weighing on manufacturing in some districts.