The U.S. economy continued expanding at a modest pace through late August, supported by private-sector demand, household income growth and sustained business investment in AI infrastructure. Ten of the Federal Reserve’s 12 regional districts reported slight to moderate growth and two reported no change in the latest Beige Book, compiled by the Minneapolis Fed from information collected through Aug. 24. Data centers and related projects supported construction, manufacturing, services and power generation, while employment rose only slightly overall and labor-market conditions remained broadly stable. Consumer spending diverged by income, and energy, insurance, materials and fuel costs continued to pressure businesses and households.