GO
Loading...

Fed's Beige Book: Economic Activity Continued to Expand in May

U.S. economic activity expanded from mid-April through May, with a number of areas reporting stronger growth, the Federal Reserve said on Wednesday.

Seven Fed districts described growth as modest or moderate, while others reported growth as moderately strong, edging up, or somewhat faster than in recent months, according the Fed's Beige Book summary of anecdotal economic conditions.

The Fed said overall wage pressures had not increased, but added that there were "significant" price increases for energy-related products.

However, districts generally did not indicate an increase in overall price pressures, the U.S. central bank said.

Featured

  • The Marriner S. Eccles Federal Reserve building in Washington.

    CNBC's Fed Survey shows market pros aren't very confident the Fed can end its easy money polices without a market crash, a recession or bad inflation.

  • Merck employees walk past a Merck sign in front of the company's building in Summit, New Jersey.

    Merck reported better-than-expected results, with sales of newer drugs offsetting declining sales of drugs facing generic competition.

  • Pfizer reported higher-than-expected second-quarter earnings, helped by growing sales of its cancer medicines.

  • An attendee is silhouetted against a Microsoft poster at the Microsoft Developers Build Conference in San Francisco, April 2, 2014.

    An agency that enforces antimonopoly laws visited company offices in four cities, as the country more closely scrutinizes multinational companies.

Contact U.S. News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    › Learn More

Don't Miss

U.S. Video