The U.S. Federal Reserve said on Wednesday that the nation's economic activity continued to grow at a steady pace since February, but the rising gas price has caused jitters among manufacturers.

In its latest national economic performance survey, the central bank said that five districts including Boston, Atlanta, Chicago, Dallas and San Francisco reported moderate economic expansion.

"Cleveland and St. Louis cited modest growth. New York reported that economic growth picked up somewhat. Philadelphia and Richmond cited improving business conditions. The economy in Minneapolis grew at a solid pace and Kansas City's economy expanded at a faster pace," the Fed said.

The survey, known as the Beige Book, was based on economic information supplied by the Fed's twelve regional banks and was released eight times each year to provide a snapshot of the local economy.

Manufacturing activity continued to expand in most districts, with gains noted in automotive and high-technology industries. Manufacturers in many districts expressed optimism about near-term growth prospects, but they are somewhat concerned about rising gas prices, noted the survey on the basis of data collected by April 2.

Surging gas prices have not yet affected U.S. consumer sentiment, but will if the rise continues, Moody's Analytics chief economist Mark Zandi wrote in a recent analysis article.

Hiring was steady or showed a modest uptick across many districts. Difficulty finding qualified workers, especially for high-skilled positions, was frequently reported, said the Fed.

A separate report released by the U.S. Labor Department last week showed that the nation's unemployment rate edged down 0.1 percentage point to 8.2 percent in March, the lowest rate since January 2009. But new job growth eased pace to a sub-par 120,000, sharply lower than the average monthly increase of 246,000 new jobs in the prior three months.

The unemployment rate fell in March because fewer jobless workers were actively seeking a job, not because more Americans found one. After six months of robust job gains, a mediocre report in March might signal the start of slower improvements in the next few months, said Gary Burtless, a senior fellow at the Brookings Institution.

Retail spending continued to improve in almost all districts, signaling the U.S. economy entered the new year on a positive note.

Residential real estate activity improved in most districts. The construction of multi-family housing units including apartments expanded in many districts. Home prices continued to decline in Boston, New York and Minneapolis. The survey revealed that mild weather have boosted real estate activity in Boston, Philadelphia and Kansas City.

However, economists warned that the upcoming economic data including the gross domestic product (GDP) and job reports might fall short of market expectations, evidence of the struggling recovery after the most severe recession after the Great Depression.

"The economic data will turn a bit soft in coming months as the effects of the warm winter fade and higher gasoline prices take a toll, but the economy's fundamentals are growing firmer," Zandi added.