The aspect of the economy most important to the average person is, of course, unemployment. Unfortunately unemployment is what economists call a "lagging indicator", meaning it's usually one of the last measures to improve during a recovery. It may well be that jobs won't become more abundant until 2010, but that too will come. The doom-and-gloom crowd were wrong as usual. The worst is behind us.
Update (29 May): The GDP is better than expected, too.