Slow global growth weighing on US manufacturers: Fed report

Despite reporting solid growth in recent weeks, US manufacturers increasingly worry trade spats and other factors will dampen the outlook, the Federal Reserve said Wednesday.

At the same time widespread worker shortages are hampering growth nationwide and throughout industries, and wage increases are becoming more widespread as companies compete to fill open positions, according to the Fed's "beige book" survey of the economy.

But prices "continued to increase at a modest-to-moderate pace" as firms seeing higher input costs still cannot consistently pass them along to consumers, the report said.