WASHINGTON (AP) — A Federal Reserve survey of business conditions across the United States has found that economic activity was expanding at a modest pace in February. The Fed’s business contacts expressed optimism about a stronger rebound as more COVID-19 vaccines are distributed. The Fed survey released Wednesday said that reports on consumer spending and auto sales were mixed last month, while overall manufacturing showed moderate gains despite supply-side constraints. The report, known as the beige book, is based on surveys conducted by the Fed’s 12 regional banks. It will form the basis for discussions when central bank officials meet on March 16 and 17 to discuss their future moves on monetary policy.
