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Old 22nd Apr 2008, 14:47
  #789 (permalink)  
The SSK

A Runyonesque Character
 
Join Date: Apr 2004
Location: The South of France ... Not
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We're already in a recession
Nope, nowhere near.
A recession is two or more successive quarters of negative economic growth. Neither the world, nor the US, nor the UK, nor any European economies were near that stage in Q4 last year and are not much closer in Q1 this year.

Things are slowing down for sure and will slow down a bit more yet. IMF issued its latest outlook for Europe yesterday, it's not particularly cheerful but it's not doom and gloom either.
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