So, the Conference Board released their August report on economic indicators today and things are indeed looking up.
The big news isn't that the leading indicators are trending upward, though that is certainly good news. The big news is that the concurrent index (i.e., indicators of activity going on right now) have flattened for the first time since October 2008.
This could mean that the negative economic conditions have bottomed out, and because the leading indicators are trending up we could see current conditions begin to trend upward next month.
The original publication is here, and a PDF version is here. Pay close attention to the graph in the PDF, it's pretty illustrative of why can be at least a little optimistic.
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