The projections that the recession in the United States will be completed later this year, represent an informed opinion on the state of the economy. This was stated by the President of the Federal Reserve Bank of Richmond Jeffrey Leker Wednesday. Comments Lekera extracted from the text of a speech prepared for presentation to the Senate Committee on Appropriations in North Carolina. Leker, who is a member of the Operations Committee on the open market, the Fed with the right to vote, said that the U.S. is in deep recession. However, he pointed to some hopeful signs in the residential construction and manufacturing industries. Number of bookmarks to the new single-family houses in January to a minimum and has since been slightly increased. In addition, other statistics indicate that the housing may form a bottom later this year, Leker said. "We also have some evidence that the worst recession in the manufacturing industry is already behind us," - added Leker.
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