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Old 22nd Apr 2008, 15:31
  #793 (permalink)  
harrogate
 
Join Date: Dec 2005
Location: Leeds
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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.
Thank you. Saved me a job.

Armchair economic analysts use the term 'recession' too readily. It has a meaning. It's not just a term given when some house prices in London fall a bit (house prices are still rising around here, by the way).

We're at the very least 6 months away from recession at present. It probably won't happen.
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