Signs of hope for the economy

On Wall Street, the stock market has gone up 12 days out of the past 20. Consumer confidence is up a tick, in Florida and across the nation. Even the housing and auto industries are showing unexpected signs of life.

In the steady downbeat of news about the economy in recession, a few signs of hope have surfaced, including Thursday's 216-point rally of the Dow Jones industrial average. A broad rally washed from Asia to Europe and finally to Wall Street, lifting the major indexes about 3percent as global leaders at the Group of 20 summit in London pledged $1.1 trillion in loans and guarantees to shore up struggling nations.

A turnaround? No one expects that from the economy this year. But there are indications that the economy may be close to hitting bottom, economists say.

"We may be shedding jobs for a little while," said Chris McCarty, who runs the Florida consumer-confidence surveys. "But on the bright side, it does look like the stock market is developing a floor here."

Signs of hope for the economy - (Ft. Lauderdale) Sun Sentinel - April 3, 2009