Recession seems far off — that’s the good news. Yet the economy is also far from trouble-free.

1. Household spending increases, supporting economic growth despite potential recession. 2. Inflation rising but not as fast as feared; currently near 3%. 3. Job growth has slowed, averaging 27,000 per month since May. 4. Consumer confidence remains shaky due to inflation concerns. 5. September employment report crucial for Fed's future interest rate decisions.