Beige Book points to economic stabilisation
The Federal Reserve's Beige Book, a survey of economic conditions compiled by the 12 regional Feds, notes that most districts indicated that the pace of decline had moderated since the last report or that activity has begun to stabilise, even though at a low level.
The report states that four districts pointed to signs of stabilisation, three districts reported that the pace of decline appeared to be moderating and five districts described activity levels as slow, subdued or weak.
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