Fed survey finds solid growth and rising wages
WASHINGTON (AP) — The Federal Reserve reported Wednesday that the economy was growing at a moderate pace at the start of the year, with the majority of business contacts optimistic about prospects for 2018.
In its latest survey of business conditions nationwide, the Fed said that wages were rising at a modest pace. Some Fed districts were seeing a broader range of industries giving pay raises, especially in areas where employers are having a harder time filling positions.
While 11 of the Fed's 12 regions described growth as modest or moderate, the Dallas region reported robust growth compared to 2017, led by strength in a number of sectors including manufacturing.
With the unemployment rate at a 17-year low of 4.