WASHINGTON - The economy is finally showing signs of stabilizing in some regions of the country, especially in parts of the Northeast and Midwest, bolstering hopes of a broader-based recovery this year.

A Federal Reserve snapshot of economic conditions issued Wednesday found that most of the Fed's 12 regions indicated either that the recession was easing or that economic activity had "begun to stabilize, albeit at a low level."

The economy remains fragile, but the fact that some Fed regions reported signs of activity beginning to level out raises hope that the recession, which started in December 2007, is drawing to a close.

Four Fed regions - New York, Cleveland, Kansas City and San Francisco - pointed to "signs of stabilization," the survey said. Two regions, Chicago and St. Louis, reported that the pace of economic decline appeared to be "moderating."

Five other regions - Boston, Philadelphia, Richmond, Atlanta and Dallas - described activity as "slow," "subdued" or "weak." Only one region, Minneapolis, indicated that its downward slide in economic activity had worsened.

Many analysts predict the recession eased considerably in the April-to-June quarter. They're forecasting that the economy shrank at only a pace of 1.5 percent in the second quarter.

That would mark a big improvement from the annualized 5.5 percent drop in the first three months of this year. The government will release the second-quarter results Friday. Many economists also believe that the United States could start growing as soon as the current quarter.