US Treasury Secretary Timothy Geithner on Friday spoke of positive signs in world economy and trade, but cautioned this doesn't mean the beginning of a real recovery.

Briefing reporters after a closed-door meeting with top financial officials from the world's seven biggest industrial nations, or G7, Geithner said the global economy looks a little bit better now, but it is way too soon for any victory laps.

"There are signs that the pace of deterioration in economic activity and trade flows has eased," Geithner said.

Without elaboration, Geithner said that certain spending measures have stabilized and financial conditions have shown " modest improvement."

The U.S. housing market, the epicenter of the global crisis, is beginning to stabilize, Geithner noted.

But he also cautioned that "we would be wrong to conclude that we are close to emerging from the darkness that descended on the global economy early last fall."