Another sign the economy is (slowly) turning around

From the Associated Press over the weekend:

The economy is showing renewed strength as retail sales surged last month and factory orders also increased. Such gains could lead to more hiring — if they can be sustained. Retailers said Thursday that store sales rose in February by the largest amount since November 2007. And orders to U.S. factories in January posted their sharpest rise in four months. It was another sign that manufacturing is helping drive the economic recovery.

The upbeat reports followed other encouraging signs this week: The service sector grew last month at its fastest pace in more than two years, according to a private survey of purchasing executives released Wednesday. And a similar survey on Monday found that manufacturers are also growing.

To read the complete story, click here.

Granted, the improved traffic hasn’t trickled all the way down to the grass roots, independent brick and mortar level yet, but…. When money begins to flow through businesses that focus on services, it shows consumers are open to non-essential spending again. When it flows through manufacturing, it means consumers need more product. Both are upward signs.

Will it hold? No one knows, but my guess is whatever jitters we see in the next several months will be small ones. We’re getting our footing back, having learned how to do business better and cleaner than before.

As for the jobs numbers, I don’t expect to see a big jump upward there. After all, companies large and small had to downsize, and have learned how to produce quality products and services with a greater level of efficiency. Obviously, the downside there is fewer new jobs…which means still snug budgets in a lot of households.

The signs are good, albeit conservative. In my book, anything upward at this point is a win. Let’s take it and be thankful.