The U.S. economy grew at a modest pace in recent weeks, with manufacturing buffe...
WASHINGTON, Sept 4 - The U.S. economy grew at a modest pace in recent weeks, with manufacturing buffeted by a global slowdown while consumer purchases gave mixed signals on the strength of household spending, the Federal Reserve reported on Wednesday.
The ongoing U.S.-China trade war loomed prominently in the U.S. central bank’s latest Beige Book compendium of anecdotes from companies around the country, with several of its districts reporting the conflict was weighing on business. “Although concerns regarding tariffs and trade policy uncertainty continued, the majority of businesses remained optimistic about the near-term outlook,” according to the Fed’s report.
In the Fed’s Boston district, which includes much of New England, “tariffs continued to be a minor but persistent pricing issue for manufacturers.”“Agricultural conditions remained weak as a result of unfavorable weather conditions, low commodity prices, and trade-related uncertainties,” according to the report.
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