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Last month I said we have yet to see the spike down in capacity utilization that has accompanied every recent recession.

It remains early, but the latest data is starting to look more recession-like.

click to enlarge

In the minds of many investors, I think the recession has come and gone. It will be interesting to see whether a “recession resurgence” will have any impact.

Source: Capacity Utilization Figures Starting to Resemble a Recession