The Capital Spectator gives a positive spin:
In short, it’s all but certain now that 2012 escaped recession. That’s no surprise, of course. A broad reading of the numbers all along has routinely told us that the economy’s momentum was firmly in the positive column, as CS-ETI has shown for months. Yes, the data points for personal income and spending numbers for December are yet to come. And there’s always the potential for data revisions that paint a far darker cyclical picture. Anything’s possible, as always. Based on the available numbers, however, the case is quite firm for expecting that the final analysis on the business cyclical history for 2012 will declare the year as one that was recession-free.
Although we´re “squarely depressed”