Editorial: Economy signs are showing positive
There are more signs that the economy is in the early stages of recovery, according a Federal Reserve report released this week.
The Fed's latest business condition snapshot shows "many" economic sectors have stabilized or made improvements in the past six weeks.
This is another good sign that things are starting to turn around and the recovery has started.
It does not mean though that the economic recovery has been completed, as many of the sectors have been in "depressed" activity levels.
Thus, improving from "depressed" to "poor" is not a hot economy. Yet, it is the start of an improvement.
The housing sector is improving, especially with high interest in the $8,000 credit for first-time homebuyers. There is concern that the credit ending in November may flatten the housing improvement. Only time will tell.
The manufacturing sector is also showing growth, as many businesses have had to restock depleted inventories.
While the economy still has a long way to rebuild itself from worst recession since the 1930s, the important thing is that there are positive signs of stabilization and even growth in some sectors.
This is how an economic recovery begins -- one small step forward after another.