I think it depends. If you think the worst of the recession will occur in the middle of it, it's not optimistic. It only means that it has moved out of the beginning and into the middle, which could be worse than the beginning.
[edit] An example came to me:
If someone were to say to me "This is not the beginning of the end of the hurricane; it's the end of the beginning." I would not take that as a hopeful comment.![]()