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Fed Says Economy Growing in Most of U.S. as Weak Spots Emerge

  • Beige Book report shows ‘outlooks generally remained positive’
  • Survey shows optimism down on concerns over trade, volatility
WASHINGTON - JANUARY 22: The Federal Reserve building is seen January 22, 2008 in Washington, DC. The Fed cut its benchmark interest rate by three-quarters of a percentage point after two days of tumult in international markets due to fear of a recession in the United States. (Photo by Chip Somodevilla/Getty Images)
WASHINGTON - JANUARY 22: The Federal Reserve building is seen January 22, 2008 in Washington, DC. The Fed cut its benchmark interest rate by three-quarters of a percentage point after two days of tumult in international markets due to fear of a recession in the United States. (Photo by Chip Somodevilla/Getty Images)Photographer: Chip Somodevilla/Getty Images North America
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The still-strong U.S. economy showed signs of slowing in recent weeks amid declining optimism, though most regions continued to show modest to moderate growth, a Federal Reserve survey showed.

“Outlooks generally remained positive, but many districts reported that contacts had become less optimistic in response to increased financial market volatility, rising short-term interest rates, falling energy prices, and elevated trade and political uncertainty,” according to the report, released Wednesday in Washington.