A Ray of Hope for the Economy

With the current state of the economy is there a ray of hope shining through? According to a recent article found at money.cnn many economists are seeing signs of recovery as early as this summer! Even though New York unemployment is at a 25 year all time high there could be a silver lining right around the corner. Economists are saying they are seeing indicators bottoming out left and right. Starting with job losses peaking in January to increased home sales and stocks. Even better news is because the economy took such a steep fall they are hopeful that the recovery will be that much stronger.

Some economists are saying recovery could be as close to four months away! Such as economist Lakshman Achuthan, managing director of Economic Cycle Research Institute. He says his firm’s readings on long-term and short-term economic indicators give him significantly more hope that the economy is closer to a turnaround than he had thought even a month ago! Among the more than dozen different things his firm looks at are home prices, the jobs picture and stock prices.

Mark Zandi, chief economist of Moody’s Economy.com, also believes that a recovery could be closer than most people think. However, he said an end to the recession would largely depend on improvement in the labor markets. His first concern is getting job losses under control. He says if we can help improve job losses that will help build consumer confidence back into the economy and stocks.

I say the sooner the better! I love reading good news…