TBH I’m surprised that a recession hasn’t officially been declared six months ago.
Productivity must be suffering given all the job vacancies; ongoing outwardly disruptive strikes are hitting a wide variety of industries; stock investments and cryptocurrencies have hoovered up liquid assets meaning they aren’t passing through consumers and traders’ hands; quantitative easing programs going on for nearly a decade will eventually devalue the currency; disinvestment in Russia; double digit inflation and interest rates raised fivefold within months.
I’m wondering how they are maintaining even a semblance of an economy in those conditions.
A 0.3% drop Q on Q seems pretty mild given that it’s the quarter that included Liz Truss’ budget and Hunt’s reversal.
TBH I’m surprised that a recession hasn’t officially been declared six months ago.
Productivity must be suffering given all the job vacancies; ongoing outwardly disruptive strikes are hitting a wide variety of industries; stock investments and cryptocurrencies have hoovered up liquid assets meaning they aren’t passing through consumers and traders’ hands; quantitative easing programs going on for nearly a decade will eventually devalue the currency; disinvestment in Russia; double digit inflation and interest rates raised fivefold within months.
I’m wondering how they are maintaining even a semblance of an economy in those conditions.
A 0.3% drop Q on Q seems pretty mild given that it’s the quarter that included Liz Truss’ budget and Hunt’s reversal.