US economy keeps up momentum: Beige Book

Washington

THE US economy grew during May and June, keeping up momentum after the first quarter's stall, the Federal Reserve's Beige Book survey said on Wednesday.

All 12 of the central bank's districts indicated that economic activity expanded, with growth characterised as "modest" or "moderate", according to the report, which will serve as a framework for the Fed's monetary policy meeting at the end of July.