Fed Saw Continued Growth Across U.S. as Harsh Weather Abated

The Federal Reserve said the U.S. economy continued to expand in most regions as businesses benefited from a bounce back from harsh winter weather earlier in the year.

Eight of 12 Fed districts characterized growth as “modest or moderate,” the Fed said today in its Beige Book business survey, based on reports gathered before April 7. Economic growth in Chicago “picked up” while New York and Philadelphia saw a rebound from weather-related slowdowns, the report said. The Cleveland and St. Louis districts reported declines.