国际英语新闻：U.S. Fed survey says economic conditions continue to expand despite snowstorms

WASHINGTON, Mar. 3 (Xinhua) -- Economic recovery in the United States "continued to expand," although severe snowstorms in early February held back activity in several districts, the Federal Reserve said on Wednesdays in its latest survey on business conditions.

The survey, known as Beige Book, was based on economic information supplied by the Fed's 12 regional banks and collected before Feb. 22, and struck a more positive tone than the last survey, which was released on Jan. 4.

The snapshot of economic conditions found that nine districts reported that economic activity improved, but "in most cases the increases were modest." Two districts showed mixed conditions. Only Richmond reported that economic activity slackened or remained soft across most sectors, due importantly to especially severe February wither in that region.

Most districts reported consumer spending improved slightly since last survey, but severe snowstorms in early February limited activity in some districts.

Manufacturing activity has strengthened since the last report in most districts, particularly in the high-tech equipment, automobile, and metal industries.

Residential real estate markets improved in a number of districts. However, most districts characterized commercial real estate and construction activity as weak or having declined further.

Although some hiring was reported in a few Federal Reserve districts, labor market conditions remained generally soft throughout the nation, which resulted in minimal wage pressures, the Fed reported.

Price pressures remained mostly limited in nearly all districts, with the exception of some increases in raw materials prices, according to the Beige Book.

The survey summarizes comments received from business and other contacts outside the Fed and is not a commentary on the views of Fed officials.

But its findings will figure into discussions when Fed policymakers meet to consider their stance on interest rates and other monetary issues on Mar. 16.