UPDATE 1-Fed beige book says U.S. business activity expands

Newswire

(Adds details, background paragraphs 8-12) WASHINGTON, July 27 (Reuters) - U.S. business activity continued to grow in June and early July, and overall price pressures eased or were flat in most places despite higher energy and building costs, the Federal Reserve said on Wednesday. Only the New York district reported a slowing in the rate of economic growth, the Fed's "beige book" summary of economic conditions said. Many districts reported substantial increases in the costs of energy, ...

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