Worst recession since 1930s appears to be over; Fed finds most of US stabilizing or improving
By Jeannine Aversa, AP Economics Writer
WASHINGTON (AP) — A new government survey finds the vast majority of the country reporting economic activity is stabilizing or improving, as the worst recession since the 1930s appears to be over.
The Federal Reserve’s snapshot of economic conditions backs predictions by Fed Chairman Ben Bernanke and most other analysts that the economy has started to grow again in the current quarter.
In the new survey, all but one of the Fed’s 12 regions indicated that economic activity was “stable,” showed “signs of stabilization” or had “firmed.”
The one exception was the St. Louis region, which continued to report that the pace of decline in economic activity appeared to be “moderating.”
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