MNI BRIEF: Most Fed Districts Saw Modest Increase in Activity

U.S. economic activity expanded gradually in the past few weeks, "although conditions remained varied," the Federal Reserve's Beige Book report said Wednesday.

"Most Federal Reserve Districts reported that economic activity increased modestly since the previous Beige Book period," the report said. However, two reported little or no change in activity, while two others noted a decline.

"Although the prospect of COVID-19 vaccines has bolstered business optimism for 2021 growth, this has been tempered by concern over the recent virus resurgence and the implications for near-term business conditions," the report said.