The economy has continued to grow slowly, despite harsh snowstorms that crimped activity in some parts of the country last month. A new Beige Book survey by the Federal Reserve, released today, shows that the recovery is plodding ahead, though not at a strong enough pace to persuade companies to ramp up hiring. The Fed says “economic conditions continued to expand … although severe snowstorms in early February held back activity” in some places. Of the 12 Fed regions surveyed, the Richmond district, which includes Maryland, Virginia and the Carolinas, was hurt the most by the bad winter. That region reported economic activity had “slackened or remained soft across most sectors” because of the weather.
U.S. economy grows, no thanks to the snow
Sign up for the free Daily Report email – local news about the people, companies and issues that impact business impact business in Baton Rouge and beyond.
