After so long in the doldrums there appears to be a genuine belief that recovery is on its way.
A welter of economic data released in recent months both Scotland specific and UK-wide has pointed to lost ground being made up inch by inch.
On Monday, a new report on business distress landed on my desk and again it was presented as good news.
The report told of “dramatic reductions in business distress” that could hopefully signal “the start of a full blown economic recovery”.
On the face of it, the report was exactly that, with headlines showing a 20% drop in the number of Scottish companies in significant distress and a 71% fall in firms facing critical problems.
But before I had a chance to shout hurrah from the rooftops, the fine print of the report quickly took the wind out of my sails.
Because what the 20% drop actually means is that JUST 9,661 Scottish companies found themselves facing some sort of financial or administrative issue in the three months to June.
That is almost 10,000 Scottish companies that are facing court actions, possible insolvency proceedings or have failed to publish up-to-date accounts.
Hardly a reason to celebrate.
The drop in companies in critical distress is more significant but it still means Scotland had 119 firms facing called-in debts of more than £5,000 or winding-up petitions within the last three months.
Many people argue that if you talk down the state of the economy as happened day in and day out during the height of the recession then it simply becomes a self-fulfiling prophecy and things begin to spiral downwards.
Talking things up too much also has its own inherent dangers if the head of steam gathering within the economy fails to live up to the hype.
Context is key and no single report, either good or bad, should be given undue importance over others.
The truth is that the economy in both Scotland and the wider UK is still a long way from being recovered.
Far too many firms remain in serious difficulty with their owners living a hand to mouth existence as they desperately try to claw together the cash needed to pay rent, suppliers and the utility bills.
From an observer’s point of view, it has been heartening to see a rise in general business confidence in recent months.
But optimism alone does not make a recovery a myriad of economic stars have yet to align to produce that sustained economic growth that we all crave.
When that happens I’ll be the first to scramble up on to that rooftop and declare the UK’s economy is back on track.
But until such times, I’d suggest all claims of impending economic renaissance should be taken with a pinch of salt.
* Business Secretary Vince Cable this week announced a long-awaited review of the controversial practice of pre-pack administrations.
The practice, which allows circling investors to snap the assets of a company while jettisoning its debts, was used in almost a third of UK administration situations last year.
It has helped save thousands of jobs and kept alive household names such as the beds retailer Dreams, lingerie chain La Senza and, in the past few days, the fashion chain Internacionale.
But the practice is hugely controversial as firms placed going down the pre-pack route can be sold on debt free often within hours of collapsing.
That leaves the unjust situation where creditors, whose only mistake is to have supplied goods or services to a firm which has gone under, can be left facing financial ruin with no opportunity to recover their debts.
Pre-packs have long needed to be reviewed and their good points properly measured against the bad.
It is only by going through this procedure that confidence can be instilled in what has proved to be a divisive process.