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As on May 28, 2020 12:00 AM Your results on : Currency News    
Economic Buzz: US Economy Suffers Sharp Decline Says Beige Book
28-May-2020 (09:21)
The US economy suffered a deep decline from March through mid-May as a result of the coronavirus pandemic and the subsequent lockdown of the nation, according to the Federal Reserve's Beige Book. Most of the Fed's 12 districts reported a sharp decline in economic activity, the central bank said in its region-by-region roundup of anecdotal information known as the Beige Book. The US Economic activity declined in all Districts - falling sharply in most - reflecting disruptions associated with the COVID-19 pandemic, the report said. Consumer spending fell further as mandated closures of retail establishments remained largely in place during most of the survey period.

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