Fed Saw Growth Even as Harsh Weather Slowed Hiring, Sales

The Federal Reserve said the economy in most regions grew last month even as harsh winter weather impeded hiring, disrupted supply chains and kept customers away from stores and auto dealerships.

Eight of the Fed’s 12 districts “reported improved levels of activity, but in most cases the increases were characterized as modest to moderate,” the Fed said today in its Beige Book business survey. The New York and Philadelphia districts reported declines that were “mostly attributed to the unusually severe weather experienced in those regions.”