US economic outlook 'optimistic'

（单词翻译）

The US economic outlook has become "cautiously （谨慎的）optimistic", according to the latest issue of the Federal Reserve's influential¹ Beige Book.

Five of the 12 districts surveyed said there were signs of improvement, with five showing signs of stabilisation（稳定） since the last report in July.

Overall, economic activity "continued to stabilise", the report said.

Many economists² believe the US economy has bottomed（触底） out and is slowly starting to recover.

The mildly upbeat report had little impact on stock markets.

Weak demand

Most regions reported some improvement in residential³ property markets, despite "downward pressure on home prices".

They also reported "modest（温和） improvements" in the manufacturing sector⁴.

But the report also found that retail⁵ sales in the majority of districts remained flat.

This is particularly important in the US where consumer spending accounts for about two-thirds of overall economic activity.

It also found that demand for commercial property remained weak and that demand for loans was subdued⁶ - figures released on Tuesday showed that US consumers slashed⁷ their borrowing by a record amount in July.

The Beige Book, compiled eight times a year and used to help set interest rates, is based on a survey of business views from around the US. (本文由在线英语听力室整理编辑)