Despite resilient stock markets and relatively low unemployment, cracks are forming beneath the surface: job growth is cooling, inflation remains stubborn and retailers are preparing for a weaker holiday season. And a slowdown in cardboard box production could be one of the clearest signs yet that the U.S. economy is bracing for a downturn.

But there are signs that companies are expecting things to go sour. For one, recent forecasts about the upcoming holidays suggest retailers are expecting a drop in shopping leading up to Christmas. One of the biggest signs is neatly packaged, and it has to do with the packaging itself.

“You’re seeing fewer cardboard boxes being ordered,” said Jadrian Wooten, an economics professor at Virginia Tech.

The cardboard industry in the U.S. is massive — abou

See Full Page