Recession Watch

[Filuwaúrdjan]

UK recession 'likely' in the next 6 to 9 months

http://news.bbc.co.uk/1/hi/business/7566792.stm

Report by the British Chambers of Commerce. But look...

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lol

Totally shameless.

[Filuwaúrdjan]

Not a surprise (or at least it shouldn't be) as the earlier estimate did look ever-so-slightly optimistic (especially in the light of the contractions in the other big European economies). I know a couple of shopkeepers and so on and most seemed to find June especially tough for some reason.

Though I'm almost tempted to wonder whether all of this misses the point; insofar as people are suffering or likely to suffer from the economic downturn, they're suffering already (and have been for months). It makes very little real difference to ordinary people whether the economy eventually shrinks for two quarters in a row, except perhaps in an abstract, almost symbolic way. Inflation (especially food prices and so on; a lot of things have gone up a hell of a lot over past couple of months) and unemployment are more important (or at least more relevant), I think. Though obviously everything is connected and so on and so forth. That probably made less sense written down than it did in my head. And it might look like I'm trying to argue something that I'm not. Anyway. I knew what I meant.