The U.S. economic recovery is anemic. Unemployment is high, and housing is depressed. Gyrations in the stock market leave investors dizzy. But in these difficult times there is cause for optimism, from the standpoint of both individual investors and the U.S.

If Arizona’s economy were a hospital patient, she would be out of intensive care, but still in the hospital. In other words, the economy is doing better and certainly on the road to recovery, but it isn’t recovered yet.

The “2011 Metro-Phoenix Business Study: New Strategies for Success,” commissioned by SRP paints a community that fought hard to survive the recession, but is now cautiously optimistic about the future. All would like to return to pre-recession conditions, but the downturn has left its mark.

U.S. Gross Domestic Product (GDP), the measure of the nation's output of goods and services, grew by 2.2 percent in the first quarter of 2012, according to the latest figures from the U. S. Bureau of Economic Analysis.

Arizona non-agricultural employment increased by 2.4 percent year-over-year in June, advancing the state into fifth place in the monthly job creation rankings. Last year at this time, the Grand Canyon State ranked 32nd.

In this video, three leading economists discuss fiscal policy, including the Federal Reserve’s dual mandate, the “Taylor Rule,” the 2009 stimulus package, the efficacy of temporary tax rebates and the financial crises in Europe.

The economic woes we’ve been struggling with won’t disappear anytime soon, said David Greenlaw, Morgan Stanley’s chief U.S. fixed income economist in a speech in New York City last week. Greenlaw and former Morgan Stanley colleague Richard Berner, now counselor to the Secretary of the U.S.

At the 49th Annual Economic Forecast Luncheon, co-sponsored by the W. P. Carey School of Business Department of Economics and JPMorgan Chase, two experts offered their insights into Arizona’s economy in 2013.

This year, retailers in Arizona saw a 6.7 percent increase in holiday sales year over year – topping the 3-4 percent reported for retailers nationally. That translated to $9.8 billion in sales, said W. P. Carey economist Dennis Hoffman at the Economic Club of Phoenix luncheon this week.

The Phoenix metro area boasts a team in all four big-league sports, making it one of only a dozen metropolitan areas that can make this claim. And, of course, ASU has a high-level athletic program that draws hundreds of thousands of fans every year.