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Signals of slower economic growth and increasing fears over the debt crisis in Europe have led to renewed concern regarding the U.S. financial recovery. Look under this surface, though, and you will find some positive factors.

Consumers are now saving more money and reducing debt, which could result in a more sustainable economy.

Though a higher rate of saving and decreased debt may lead to short-term slowing in economic growth, they can stimulate growth over the long-term. A bubble is less likely to develop from growth based on saving and smaller debts.

Some consumers may face temptation to spend more but tougher standards imposed on borrowers and new federal regulations may encourage them to keep debt in check.

Foreclosures remain high due to government programs that have not helped many and lenders refusing to write down mortgages. Currently, about 3.6 million mortgage holders are at least 120 days behind with payments or are already in foreclosure.

Though the situation is painful for them, economists say it is necessary to housing sector rebound and overall economic recovery.

The federal deficit battle in Washington could result in the nation having to make difficult decisions, create priorities, and make changes that will result in more stable financial ground for the government. Despite this, analysts fear an increase in interest rates after the Federal Reserve bond purchasing program ends in June.

Economic reports from last week were not encouraging, with softer-than-anticipated first-quarter consumer spending and increasing unemployment claims.

Before consumers resort to cash advances for financial security, they should be aware that the slowdown might be temporary. Share price decreases are only modest and many analysts feel the labor market made a positive turn this year.

During first quarter 2011, U.S. business productivity increased at only a 1.6 percent annualized rate, indicating that companies are being forced to speed their pace of hiring.