I’ve heard two interpretations of this data. That we’re all so worried about the cost of living and energy that we’re already sticking everything on the never-never, just in case. Or that it’s a sign of ‘consumer confidence’, that we’re still happy to spend, spend, spend and blow the consequences. The consequence for many last time around was to join the booming ‘we’ll get rid of your credit card debt in one easy voluntary arrangement (and you’ll probably never get a loan again)’. And the rise and fall of the payday lenders who rushed to fill that particular gap. So these could be pieces we’ll be picking up for many years to come, another can for this year’s PM to kick down the road for the next, no doubt.
“UK slips into recession as economy contracts 0.1% in December”
This week’s big economic and bad election news is that we are, or certainly have been, officially in a recession. You may not have thought you were, or you may have thought you have been for some time, as we and its effects are all different.