Washington  - Regions across the United States believe their economies are stabilizing or improving, signalling that the country's worst recession since the Great Depression has probably ended, according to a survey Wednesday by the Federal Reserve.

The central bank's Beige Book found that five of 12 regional banks reported "signs of improvement" since the last survey in late July, and another six said their economies were stabilizing. Only St Louis, Missouri, said it was still in a downturn, but reported the "pace of decline appeared to be moderating."

Yet the report also found most parts of the United States still had "flat" retail sales and "weak" labour markets, suggesting any recovery is likely to be slow. The US unemployment rate climbed to 9.7 per cent in August, its highest level in 26 years.  dpa