Despite two quarters of GDP decline, the U.S. is not currently in a recession, says the official arbiter of such things, the NBER's Business Cycle Dating Committee.
Economists don't tend to look at any given indicator in a vacuum. Instead, they consider a wide variety of data when making projections about the health of the economy.
First-quarter corporate earnings are beating estimates by 7%: "As 2022 progresses, we will begin to experience an easing in supply-chain disruptions, general inventory rebuilding across many end-use markets, and still a healthy consumer willing to spend."