University of Michigan economist Mark Perry examined five economic reports yesterday and suggests they tell us that, though growth remains dismal, the U.S. economy was not sliding into recession. He asks the provocative question:

All five indicators accurately signaled the last recession in 2007-2009, so they can’t all be wrong this time, can they?

Take a look for yourselves. And consider these additional reports.

James Pethokoukis thinks new credit regulations will negatively impact the housing market, setting up 2013 to be 2012 redux.

No one is looking — or seems to really care — in Washington about the collective impact of all these regulations — or any government regulations for that matter. One feather falling on you doesn’t hurt. But get smacked in the face by a whole bunch of feathers in a pillow case, and you’ll feel it.

James Hamilton asks, is this as good as it gets?

And John B. Taylor notes the third anniversary of the “recovery,” complete with dramatic comparison graphs.

I have been regularly charting the path of real GDP and employment during the recovery from the recession as new data are released. From the start it was clear that the recovery was very weak. By its second anniversary the recovery was weak for long enough to call it “a recovery in name only, so weak as to be nonexistent.” Now we are just past the third anniversary, and it is still at best a recovery in name only. It’s now the worst in American history—a tragedy that should not be minimalized.

My apologies for a gloomy Monday post. Still, in the waning months of this election season, it’s important to view economic conditions realistically. The challenges ahead should not be minimized.