"Some districts saw signs that job losses may be moderating," the report said.
From CNNMoney.com: Some hope for weak economy
U.S. economic conditions were weak or got worse through May, but some areas of the country saw signs the contraction was moderating, a Federal Reserve report said Wednesday.
Fed contacts in several regions said their expectations for the economy have improved, but they still don't expect much of an increase in economic activity in 2009.
The Fed's "Beige Book" of reports gathered from the 12 Fed districts showed widespread economic weakness with a few glimmers of hope.
What do you think" Is the economy improving for you?
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