Dive Summary:

• A rebound in the American housing market and ‘robust’ auto sales contributed to economic growth across the U.S. in February and March, according to a Federal Reserve survey.
• The survey suggests that the economy may have performed better than some data indicated, meaning the economic weakness may be short-term.
• The report listed growth as “moderate”, an upgrade from “modest to moderate” listed as the pace in two previous reports.

From the article:

The report did note some weak spots. Several districts said manufacturers of defense-related goods had cut jobs in response to government spending cuts that started taking effect March 1.