11:43 AM
Fed report shows widespread signs growth easing
Addison Ray
WASHINGTON | Wed Sep 8, 2010 2:03pm EDT
WASHINGTON Reuters - The Federal Reserve observed "widespread signs" that economic growth had eased in the six weeks through the end of August, it said on Wednesday in a report suggesting the recovery was faltering along the East Coast and the Midwest.
The Fed said in its Beige Book compilation of anecdotal reports that modest growth continued in the five western districts: St. Louis, Minneapolis, Kansas City, Dallas, and San Francisco.
At the same time growth was mixed or had slowed in five other areas: New York, Philadelphia, Richmond, Atlanta, and Chicago.
The remaining two districts, Boston and Cleveland reported positive developments and improvements in business activity.
Upward price pressures remained quite limited for most categories of goods and services, and wage pressures were also subdued, the Fed said.
Reporting by Mark Felsenthal; Editing by Neil Stempleman
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