Fed says 10 of 12 U.S. regions saw economic growth, while employment rose slightly

The U.S. economy continued to expand modestly from early July, while inflation rose at a moderate pace, the Federal Reserve said in its latest Beige Book.

Ten of the central bank’s 12 districts reported economic growth. Employment increased slightly across the country.

Demand linked to data centers and defense supported manufacturing activity. At the same time, higher energy prices and uncertainty surrounding the war involving Iran added pressure to the economic outlook.