Global Recovery

by Paula Santonocito

While mired in the gloom of the U.S. economy this past year, it's been easy to forget the recession has been global. Many other countries have been hit hard by the credit crunch, declining home values, and issues similar to those facing the U.S. And other countries have suffered job losses.

Even though misery does seem to love company, this information isn't shared for the purpose of commiseration. In a global economy, what happens worldwide impacts the U.S., from the standpoint of future business growth, job opportunities, and overall financial stability.

With this in mind, it's important to keep a close watch on signs beyond our borders.

Today's sign comes from India, and it's a positive one.

IndustryWeek reports that Asia's third-largest economy grew 7.9 percent in the quarter ending August, and that manufacturing increased by 9.2 percent. The figures, which were the best in 18 months, surprised even the economic forecasters, who had been more conservative in their estimates.

A growing economy in India suggests the global recovery has begun.