A recent Federal Reserve report called 'beige book' has indicated that the US economy is showing signs of improvement and recovery, in spite of the unpleasant weather conditions in most of the parts of the country.

A number of banks from Boston, Philadelphia, Cleveland, Chicago, Minneapolis, Kansas City, Dallas, and San Francisco including the New York Bank, witnessed improvements.

However, not much improvement is observed in the credit conditions loan demands.

But there has been a fall in the number of layoffs.

The consumer confidence is rising with time, thereby enhancing the manufacturing's. Another report released by the Institute of Supply Management has revealed an increase of 2.5% in the non-manufacturing business.

Last week's revised figures show that the U. S. economy was growing at the rate of 5.9% in last three months of 2009. This scale is greater than the previous estimates of 5.7%.