Recession Indicators: Fashion Edition

I just saw the wildest possible recession indicator: Nordstrom is now carrying H&M.

The circular economy is booming, the lipstick index is up, we are all learning how to mend & sew.

I'm wondering: what are the recession indicators you are seeing in your region, or area of the world?

Are you personally practicing or making use of any?

In North America, the economy is profoundly awful right now. The worst it has ever been, including the 2008 crash. Fashion can not ignore this much longer, and true Art always engages on some level with larger societal issues.

How will this manifest in fashion, aesthetics, and consumerism? How is it manifesting for you?

Do you think its a net-positive or a net-negative?

Does anyone know much about the hemline index? What is that doing?

Would love to hear everyone's takes & thoughts.