ORANGE COUNTY - The economic recovery isn’t proceeding as rapidly as most would like, but there are occasional bright spots.

According to the U.S. Bankruptcy Court for North Carolina’s Middle District, there’s been a sharp decline in the number of businesses filing for bankruptcy in Orange County. That’s in line with national trends.

According to the court, there were 14 new bankruptcy filings in Orange County in August—the fewest in a single month since December, and 33 percent fewer than in August 2010.

Click here for month-by-month statistics.

It’s not necessarily proof of an impending turnaround, but Orange County Economic Development Director Steve Brantley says he’s hopeful it’s a sign of better things to come.

"I do think it's a sign of a positive trend," he says. "Activity from the state with respect to prospective industries...is still quite active, and frequently that comes perhaps six months ahead of a general feeling that the economy has turned the corner.

"So I'm optimistic."

The trend is the same across the Triangle: Durham County saw a similar percentage drop in bankruptcy filings.  Nationally, 113,400 new bankruptcies were filed in August; that’s an eleven percent decline from a year ago.