Fed report shows economic improvement

June 10, 2009 5:09:25 PM PDT
New signs are showing that the recession is easing. The Federal Reserve Wednesday issued a new snapshot of the economy that shows in five of the Fed's 12 regions, the downward trend is showing signs of moderating.

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But, in the San Francisco region covering the entire western U.S., retail sales were described as "feeble," especially furniture and electronics. Commercial real estate "continues to deteriorate" and sales of new cars remain "exceptionally weak."

On the positive side the Fed reports a "sustained pickup of home sales" in some areas, new orders and sales "increased modestly" for technology products, and used cars are now selling at "normal" levels in some areas.

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