More US Fed Districts See Pullback in Economic Activity in Recent Weeks: Fed Survey

GLOBAL ECONOMY - WASHINGTON. U.S. economic activity expanded at a slight to modest pace from late May through early July and firms reported some signs that the jobs market continues to soften, underscoring the Federal Reserve's recent pivot to more keenly assessing slowing demand for labor to ensure it doesn't wait too long before cutting interest rates.

The U.S. central bank's latest temperature check on the health of the economy also showed that inflation pressures increased at a modest pace.