US saw 'modest' expansion in recent weeks, manufacturing mostly flat: Federal Reserve

[WASHINGTON] Economic activity in the United States continued its "modest" growth in the past six weeks, but trade tensions remain a concern and manufacturing was mostly flat, according to a Federal Reserve report on Wednesday.

Nine out of the 12 Fed regions saw slight growth from October through mid-November while three, including New York, stagnated, according to the Fed's "beige book" survey of the economy.

Multiple regions mentioned the negative impact created by trade tensions and tariffs, and manufacturing in the majority of regions showed no growth.

AFP