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NewsBreak: U.S. Economy at Modest Pace Despite Trade Uncertainty: Beige Book – The U.S. economy continued to expand at a modest pace through the end of August and the majority of businesses remained optimistic about the near-term outlook despite trade uncertainty and mixed consumer spending, the Federal Reserve's Beige Book showed Wednesday.

• "Overall manufacturing activity was down slightly from the previous report. Among reporting Districts, agricultural conditions remained weak as a result of unfavorable weather conditions, low commodity prices, and trade-related uncertainties."

• Firms and staffing agencies universally cited tightness across various labor market segments and skill levels, which continued to constrain growth in overall business activity

• " District reports on the impact of tariffs on pricing were mixed, with some Districts anticipating that the effects would not be felt for a few months."

• The Dow Jones Industrial Average was up 0.68%, S&P 500 up 0.83% and NASDAQ up 1.22%.

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