A Federal Reserve survey of U.S. business conditions has found modest economic gains at the start of the year, although some parts of the country saw slowdowns stemming from a renewed surge of COVID-19 cases. The Fed report released Wednesday said that the bulk of the Fed’s 12 regions reported modest gains in economic activity in recent weeks. But two districts saw declines in activity, and another two reported little or no change. It said reports on consumer spending, which drives 70% of economic activity, were mixed. Some districts reported declines in retail sales and demand for hospitality and leisure services as ... (full story)