Look at the real data, such as state income tax inflow and state sales tax inflow. Both numbers continue to drop. Income is down, and purchases are down. There can be no real growth while that continues to be the case.
While I am not onboard completely that this marks recovery, the data you are focusing on are all trailing indicators not leading indicators. I think the big question for investors, consumers, and employers is how much will bammy/nancy/harry cost me? Until that is known, either through their defeat or success, the economy will not prosper. Basically, I sense that all the economic engines will remain on idle (trading water) until they know their costs/future. This most likely translates to gridlock in congress until 2010 which the economic engines would view as a positive for growth. Any legistlative success on healthcare and capntrade would be viewed as a negative and a drag on future sales (less descretionary dollars available to compete for).
Until we clear out most of the bubble debts and ponzi finance, at best this economy will go sideways.