While the national economy suffered through a “soft patch in activity” for the first three months of this year, growth should gain strength going forward, according to Federal Reserve Bank of New York president William Dudley.

Recovery has proceeded at “a good pace” in New York and “New Jersey has shown signs of turning the corner in the last two months. Puerto Rico may have bottomed out,” Dudley said at the quarterly regional economic press briefing in New York City, according to prepared text released by the Fed.

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