U.S. Businesses Optimistic About Economy Due to Vaccines and Hiring, Fed Beige Book Says
By Hannah Lang
Most businesses are optimistic about the economic recovery this
year as coronavirus vaccines are more widely distributed and hiring
picked up slowly across the country, a Federal Reserve report said
The Fed's periodic compilation of anecdotes from business
contacts, known as the Beige Book, said the U.S. economy continued
to grow modestly in the first several weeks of 2021, though some
industries, such as leisure and hospitality, continued "to be
restrained by ongoing Covid-19 restrictions."
"Economic activity expanded modestly from January to
mid-February," the report said, adding "Most businesses remain
optimistic regarding the next 6-12 months."
The Fed said the economy expanded in most regions of the country
except the Northeast, where New York's economy declined modestly
and the Boston area saw mixed results.
(More to Come)
(END) Dow Jones Newswires
March 03, 2021 14:59 ET (19:59 GMT)
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