The US economy stuck to its modest-to-moderate pace in recent months but companies complained that China's slowdown and the strong dollar were hurting business, according to a Federal Reserve report.
Most districts also reported only slight or modest growth in hiring, though a handful said there were increasing wage pressures due to tighter labour market conditions, according to the Beige Book report.
The Federal Reserve's Beige Book is released eight times a year, providing a snapshot of economic conditions in the Fed's 12 districts.
According to the report: "Respondents in most sectors across Districts expected growth to continue at its recent pace, but the Kansas City report cited more mixed expectations."
The Beige Book gave no sense of any significant pickup in growth in the weeks in July and August covered, but businesses were relatively optimistic of continued steady growth.
It also stated wage growth continues to stagnate, and third-quarter gross domestic product growth is tracking at just 1.3%, according to the Atlanta Fed's estimate.
In addition, inflation remains muted, despite nearly seven years of zero rates and $3.7 trillion of Fed liquidity through quantitative easing.
The projections follow intensifying speculation about when the Fed will raise interest rates for the first time in nearly a decade.
