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The Trouble with Calculating Cold Weather's Bite on the Economy

March 07, 2014

Economic activity over the past month and a half, the report found, continued to expand, but growth was for the most part "modest to moderate," slowing in sectors such as retail, and some parts of the country-even declining slightly in New York and Philadelphia. The "unusually severe weather" in much of the country, the Fed says, is largely to blame-it kept people off the roads, out of car lots and away from malls (unless, of course, they sought shelter there), it delayed construction jobs and it fouled supply chains and business trips and vacation plans.