Who says there is no recession anywhere in sight? It depends on where you are looking. In short, manufacturing remains in recession; corporate profits remain in recession; freight remains deep in recession; Carmageddon remains in recession; and the Retail Apocalypse remains a recession for brick-and-mortar stores, while employment - the last holdout - is now also turning downward.
The manufacturing recession that everyone acknowledges as having begun last summer continues:
Four of the last five months have been downward moves, and even the one upward move didn't take us back above the recessionary