Recession deepening across regions, industries, fed says

The U.S. recession is dragging down almost every industry in almost every part of the country and businesses do not expect conditions to improve until late this year at the earliest, according to a Federal Reserve report. The Fed's "beige book," a compilation of anecdotal reports from businesses around the country published eight times a year, underlined how difficult it has become to find bright spots in the economy. Healthcare providers reported fewer patients in many parts of the country, as people declined elective procedures, the report found.