Most businesses are optimistic when it comes to the economic recovery this year as coronavirus vaccines are more broadly distributed and hiring picked up slowly across the country.The Fed’s periodic compilation of anecdotes from business contacts, known as the Beige Book, stated that the US economy continued to grow modestly in the first several weeks of 2021, though certain industries, such as leisure and hospitality, continued “to be retrained by continuing coronavirus restrictions.”The Fed said the economy expanded in eight of the Fed’s 12 regions, with areas including the Northeast reporting mixed or motionless results. Overall manufacturing activity increased moderately despite supply-chain challenges, and almost every region reported manufacturing growth. In Philadelphia, manufacturers told the Fed they have noticed longer delivery times, growing backlogs and increased demand from clients around the globe.