Even if it's not, Egan warns that the economy cannot sustain that pace as the inventory cycle normalizes without a stronger consumer component.

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IT, the very sector that was supposed to smooth out the business cycle through better inventory control, has ended up intensifying the current downturn.

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These goods cycle back into inventory after weeks, and carry a high cost of restocking and re-listing, and sometimes have to be written off altogether.

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The inventory cycle was reduced from 28 days to 5 days.

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Much of that feeble growth will come from a turnaround in the inventory cycle as companies stop de-stocking at the scary rate that exacerbated the recession in 2009.

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The economic rebound due to the inventory cycle is over.

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Of course, Americans may confound skeptics again by continuing to shop, and many economists don't think stronger growth recently can be dismissed as a mere quirk of the inventory cycle.

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Such a restocking, or inventory, cycle usually lasts about 18 months, suggesting that there is plenty more to come.

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Leaving many to think that the sector has reached a plateau from what has seemed to be a bullish inventory supply cycle.

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This compares with a normal inventory-led cycle where recessions are less frequent, occurring every five years or so.

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