Fed survey finds modest growth in many regions

WASHINGTON (AP) — The Federal Reserve said Wednesday that the economy grew at a modest pace in much of the country from April to mid-May, despite headwinds ranging from slower consumer spending to ongoing weakness in the manufacturing and the energy sectors.
The Fed’s latest survey of business conditions found that half of its 12 regions described growth as modest, while Dallas said economic activity had increased “marginally.” Two districts — Chicago and Kansas Cit