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  • US economic activity "contracted sharply" nationwide amid the lockdowns imposed by the coronavirus pandemic, the Federal Reserve said Wednesday. Businesses across all regions "reported highly uncertain outlooks... with most expecting conditions to worsen in the next several months." The "beige book" report showed the early signs of the carnage spreading through the US economy as factories, shops and restaurants were forced to shut down nationwide. hs/cs
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  • US economy 'contracted sharply' in all regions: Fed
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