Fed sees signs of rebound in US economy
published: Thursday | June 12, 2003
WASHINGTON (AP):
THE WEAK United States economy, which has suffered thousands of job losses in recent months, may be on the verge of a rebound now that the Iraq war is over, the Federal Reserve said yesterday.
The central bank said that four of its 12 districts - Dallas, Kansas City, New York and Minneapolis - detected signs of increased economic activity and no district reported further deterioration since the last report in late April.
"The unwinding of war-related concerns appears to have provided some lift to business and consumer confidence, but most reports suggest that the effect has not been dramatic," the central bank said in its latest survey of business conditions.
