GE Sees Economy Stabilizing

From the AP:

General Electric Co. said Wednesday that the broader economy and its own industrial and lending businesses are improving, signs the "clouds are breaking" after one of the worst years ever for the company.

Some key economic indicators have stabilized, including the high unemployment rate and the decline in housing prices, GE told investors at its annual meeting in Houston. Bank losses have stopped growing and capital markets have improved, a positive sign for GE's troubled GE Capital lending unit that has been the source of many of its problems.

"The forecast ahead of us is promising," said GE chief executive Jeffrey Immelt.