There’s green shoots all around us at home in the Northumberland countryside. There can be no doubt that Spring has arrived.

It isn’t just the changing seasons that are giving way to green shoots, there’s been some positive data in the financial markets as well this week: UK house prices rose in March; the FTSE 100 climbed back upto 4,000; and the Bank of England’s Credit Conditions Survey showed that the credit market is thawing.

But for every positive data point there are half a dozen or more negative. My £1,000 FTSE 100 investment is still underwater at £975. I started the £1k FTSE 100 Confidence Project in January as a personal show of confidence in the UK equity market.

It was either or bold or foolhardy initiative depending on your point of view. Its too early to make any meaningful comment but it has served its purpose of generating debate, attracting the attention of the Business Exchange among others.

Krishna Guha writing in the FT today cautioned “economists warn that recessions rarely proceed in straight lines and false dawns are common before recovery finally takes hold.”

The economists are right of course but for the time being I take comfort from the fact that we’re starting to see some good news.