Taps Coogan – June 7th, 2023
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The following chart, via Disruptor, shows the year-over-year trend in industry shipments of corrugated boxes:
Perhaps the most interesting thing about this chart is not that it is forecasting a recession, but that we have been at levels associated with a severe recession for months.
Indeed, without further context, one would expect this indicator to cyclically improve from these levels. That’s hard to reconcile with the idea of a recession that is coming, but hasn’t yet started.
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