Global crisis appears to be easing: US

8220;Some measures of spending in the US and other economies may have begun to stabilize. Financial conditions in some markets have shown modest improvement and there are signs that the US housing markets are beginning to stabilize.8221;

At the same time,Geithner cautioned against any simple optimism that the worst global slump since the 1930s would be over quickly.

8220;We are right to be somewhat encouraged but we would be wrong to conclude that we are close to emerging from the darkness that descended on the global economy in September,8221; he said.

Geithner was speaking after a gathering of the G7 8212; Britain,Canada,France,Germany,Italy,Japan and the United States 8212; and before going into a meeting of the Group of 20,which includes the G7 and the largest developing countries.

The G7 meeting,held traditionally ahead of the IMF and World Bank8217;s over the weekend,reviewed progress on measures agreed at the G20 London summit earlier this month to tackle the crisis.