BULLET: FED BEIGE BOOK: Overall growth moderate rather than..>

FED BEIGE BOOK: Overall growth moderate rather than "moderate or 

modest" in the last Beige Book, but three districts saw "somewhat below 

average growth." Mfg activity growth moderate. Businesses optimistic 

on near-term outlook, though trade concerns delaying some capex.

-Prices rise at modest to moderate pace in most Districts, though some 

signs of deceleration. Widespread input price pressures reported. 

Tariffs reported to be raising input costs. 

-Districts reported widespread concern over trade tensions. A number of 

districts report trade concerns prompted businesses to reduce or 

postpone capital investment. 

-Labor markets continued to be characterized as tight. High-skilled 

workers remain in short supply. Wage growth "modest to moderate" 

except sharp gains for construction. Some Districts report 

firms increasing benefits and training in order to attract workers. 

-Consumer spending continues to grow at moderate pace. Lending activity 

growth reported throughout nation.