As for the question of whether we are in a recession, the economy GREW in the last figures published, which was not at all what was predicted. Blamed on us all enjoying the World Cup and spending to do so. Admittedly, the ONS usually adjust their figures at least once so we will need to wait for the final outcome, in so far as one can ever be determined. The fact that we seem to be dealing in decimals of 1% would also suggest that this is all rather faux science. A trip to TESCO is enough for most of us to understand what is going on and what to do about it.