1. Savings. We're reloading our wallets now, as we should. In the short term, that's bad for a consumer-fueled recovery. In the long run, it's good for a healthy and sustainable consumer-fueled recovery.
2. Credit. Banks are easing their lending standards, which presages a recovery for businesses, large and small. 3. Manufacturing. A steadily growing industrial sector is getting some help from healthy global demand. Also, Americans have to start buying more cars eventually. Right?
4. Housing. "With housing starts at such a low level, there's just not much more room for it to hurt growth," Irwin argues. And if you look at a map and put one hand over Florida and another over California, Arizona and Nevada, you're looking at a country that isn't terribly underwater.
5. Trade. Had there been no trade deficit last quarter, GDP growth would have come in at a healthy 5 percent annual rate, Irwin points out. Most analysts expect it to improve next quarter, along with GDP.