CNN Business
The American economy didn’t get the memo that it’s supposed to already be in a recession.
The brutal GDP report released on July 28, showing the economy had contracted for a second quarter in a row, led some to insist the much-feared recession had already arrived.

The good, the bad and the unknown of the inflation news
And in some ways that makes sense: Since 1948, every period of back-to-back quarters of negative growth coincided with a recession.
But the recession-is-already-here argument has been severely undermined since that GDP report came out. A series of events in the past 10 days suggest those recession calls are, at a minimum, premature.
Yes, the economy is cooling off after last year’s gangbusters growth. But no, it does not appear to be suffering the kind of downfall that would qualify as a recession.