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Fed sees moderate economic growth around country this spring

The U.S. economy was growing at a moderate pace in most regions of the country in April and May, as consumers ramped up spending at retailers and auto dealers, the Federal Reserve said Wednesday. In its latest survey of business conditions around the country, the Fed said that manufacturing activity held steady or increased, except in the energy industry. Some companies laid off workers and cut back on drilling activities in response to the big fall in oil prices over the past year. The Fed report, known as the beige book, will be reviewed by officials at the Fed's next meeting June 16-17 meeting. Economists expect the central bank to delay any rate hike until they see more signs of...

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