3:19 PM » Fed Beige Book sees no shift in moderate growth pace
WASHINGTON (MarketWatch) - The economy continued on a moderate or modest growth path through late August, with only the housing sector lagging behind, according to the Federal Reserve's latest Beige Book report on current economic conditions released Wednesday. "None of the  districts pointed to a distinct shift in the overall pace of growth," the report said. While consumer spending and nonfinancial service sectors continued to expand, "barely half of the 12 districts reported stable or growing residential real estate activity." Labor market continued to grow slowly and there was little change in wages and price pressure. According to the report, the districts were divided almost evenly between three categories: expanding, contracting, or unchanged.