What does this actually mean though? As in, how will it affect us generally
Unemployment will rise, jobs will become more difficult to get.
Companies, in general, will tighten their purse strings. New buildings, expansions etc will be put on hold.
Companies now have a good excuse to have a general cut of the workforce, redundancies will be more wide spread.
Consumers in general will tighten the purse strings for some products, but not all, and not most.
People who have mortgages they can't afford will inexplicably blame the recession, despite not being directly impacted.
Retailers will lower prices and run lower margins. They will hold less stock, and offer incentives like free delivery.
The government will borrow from tomorrow, to
**** it up the wall today. They will claim this is "prudent" and the "only way". They will ignore everybody and claim growth will happen when it's all but impossible. In an attempt to win the election they will give money away.
Most people you know will bleat on about the recession, even if they are not affected.
Companies will foolishly ban overtime, cut peoples hours etc without thinking it through properly.
