U.S. economy continues moderate growth, Beige Book says

U.S. economy continues moderate growth, Beige Book says By Rex NuttingWASHINGTON (MarketWatch) - The economy continued to grow at a moderate pace in most U.S. regions after Hurricanes Katrina and Rita, the Federal Reserve said Wednesday. In the Beige Book account of current economic conditions, Fed banks across the nation reported inflationary pressures were growing and higher wages were reported in a number of industries. Mining, financial services, commercial real estate and manufacturing were solid in most regions, while retail sales and housing were weakening in some areas. "Economic activity continued to expand in September," the Beige Book said.