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Beige Book finds modest US growth, prices rising in eight districts

The Fed said input pressures were elevated in manufacturing and construction, driven by higher energy, raw-material, transportation, and petrochemical costs.

Reported · Written up by our desk · Economy

The Federal Reserve’s Beige Book, released Wednesday, described US economic activity as increasing modestly since early July, with overall employment rising slightly, according to FXStreet.

On inflation, the central bank reported that prices rose in eight districts, with elevated input pressures in manufacturing and construction tied to higher energy, raw materials, transportation, and petrochemical costs.

The Fed also noted that employment gains were limited, with three districts showing modest increases, four reporting slight gains, and five seeing no change. The outlook for the coming months was positive, but sector sentiment was mixed.

Contacts told the Fed they faced heightened uncertainty around the impact of higher energy prices, policy, and international conflict, as prices increased moderately in eight districts, the Beige Book said.

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