FXstreet.com (Jakarta) - A U.S. Federal Reserve survey released Wednesday was slightly more optimistic than last month, showing that the pace of economic decline may be starting to moderate in some parts of the country.
Reports from the 12 regional Fed banks show that, in general, the recession deepened further through early April. All districts reported downward pressure on prices and troubled labor markets.
However, five of the 12 districts reported some hopeful signs that activity in some sectors was starting to stabilize, said the economic report widely known as the Beige Book.
Similarly, while consumer spending remained generally weak, some districts reported that sales rose slightly or declines moderated. The same goes for real estate markets - they continued to be weak, but some areas reported a pickup in home sales.
Additionally, some regions reported a slight improvement in retail sales even though they remained sluggish across the board.
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