From the TUC

Are we already in recession?

16 Jan 2012, by Guest in Economics

Are we actually in recession? Both the highly respected Item Club and the Centre for Economic and Business Research have suggested so today.

Both have slashed their forecasts for 2012 and 2013 are expecting growth well below that forecast by the OBR in November.

We get the next set of OBR forecasts at the Budget in March and already it’s looking like they may have to be downgraded once again.

One Response to Are we already in recession?

  1. Chris2
    Jan 17th 2012, 3:15 am

    Of course “we are already in recession”. In fact “we” are in a Depression which has been deepening for the past five years. Some things are so clear that when metrics suggest that they are dubious it is to our measuring systems that we should be reviewing.
    People are getting poorer, materially, in every sense. The question is what is to be done about it. It is a very complex question and the answer, almost certainly, is not to return to “growth” and not to compromise further with capitalism.