Bernanke sees shoots of recovery

There are tentative signs that the sharp decline in economic activity may be slowing, said Ben Bernanke, the chairman of the Federal Reserve.

Bernanke said that these signs could be seen in data on home sales, homebuilding and consumer spending, including sales of new motor vehicles. He said that a leveling out of economic activity was the first step toward recovery. He also said that there would not be a sustainable recovery without a stabilisation of the financial system and credit markets.


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