Whew! We made it to the end of 2009. And although things could be more secure, some basic indicators point to a small-scale stabilization. The least we can say is that things are not as scary as they were last year at this time: The mass layoffs have slowed, the Dow topped 10,000 a couple of times and manufacturing and retail posted surprising gains in the third quarter. Whether or not your holiday budget includes parties, these reasons alone rate raising a glass.
Not that we're out of the woods yet. The construction and housing markets are still sluggish, businesses are uncertain about the outcome of healthcare and financial services reform, and more to the point, there's still plenty of insurance capacity and a soft market, with most lines of business still extremely competitive.
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