Fed Beige Book: U.S. recession might be fading away

04/16/2009 | CNBC

The U.S. economy is still weakening but at a much slower rate than before, and evidence from throughout the country suggests the recession's end might be near, the Federal Reserve said. According to the central bank's widely followed Beige Book, a roundup of informal observations from its regional banks, five of the 12 banks noticed the rate of decline moderating, and "several saw signs that activity in some sectors was stabilizing."

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