U.S. economy is improving but energy costs are a drag, Fed says

Posted by Kendall Harmon

The U.S. economy continued to improve over the last month on gains in manufacturing, but firms are feeling the effects of higher energy and raw material costs, the Federal Reserve said Wednesday.

"While many districts described the improvements as only moderate, most districts stated that gains were widespread across sectors, and Kansas City described its economic gains as solid," the U.S. central bank said in its "beige book" summary.

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Filed under: * Economics, PoliticsEconomyThe U.S. GovernmentFederal ReserveEnergy, Natural Resources

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