Fed: Growth slows in places on shutdown worries

Published October 16, 2013 9:12pm ET



WASHINGTON (AP) — The Federal Reserve said economic growth slowed in a few key regions of the United States from September through early October, as businesses grew worried about a budget impasse that led to a partial government shutdown.

Overall, the economy continued to expand at a “modest to moderate” pace, according to the Fed survey released Wednesday. Eight of the Fed’s 12 banking districts reported the same growth rate as they had reported in August through early September. But four districts — Philadelphia, Richmond, Chicago and Kansas City — said growth had slowed.

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