Fed Sees Pace of Economic Contraction Decline 

Several Federal Reserve Bank districts saw signs of economic stabilization as the pace of deterioration began to ease in five of the 12 — or more than 40% of all — districts, the Fed said Thursday in the Beige Book, a regular publication released eight times annually. Reports from the various districts also traced some stabilization in the housing markets with “better-than-expected” sales in some areas offsetting the falling home prices and construction reported widely.