Two years into this recovery we are quickly approaching the point in the cycle where we might expect a new cyclical contraction in economic activity.

FORBES: Recessionary Differentiations

The Philadelphia Federal Reserve's index of manufacturing activity showed a bigger-than-expected contraction in August, one day after a New York reading showed a contraction for the first time this year.

WSJ: Stocks Approach Multiyear Highs

The PMI in March, for example, strengthened to 61.2, up from 57 in December. (An index value of 50 is the demarcation between and expansion and contraction.) New orders, production and employment all showed increased strength.

FORBES: Job Creation, Economic Growth And Social Justice