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Economy in U.S. Delivers Modest Gains in Prices, Wages, Fed Says

  • Most districts said economic growth was `moderate' to `modest'
  • Manufacturing seen improving after being hurt by strong dollar
Bloomberg business news

U.S. Economy Continued to Expand

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The U.S. economy continued to expand from late-February to early April, boosting employment and delivering some long-awaited upward pressure on wages and prices, a Federal Reserve report showed.

“Most districts said that economic growth was in the modest to moderate range and that contacts expected growth would remain in that range going forward,” according to the Fed’s Beige Book, an economic survey published eight times a year. It also noted a general pickup in manufacturing, which had been hurt by a rising dollar.