Are we in a recession? Because if we are, it’s a very strange one.
Sure, we’ve had two quarters of negative economic growth. Manufacturing demand is shrinking. Construction and housing market activity has slowed. Tech companies are contracting. Financial services and real estate firms are laying people off. Inflation and energy costs remain stubbornly high, interest rates are rising and the stock market is off 18% from the beginning of the year. Just Google “recession” and you’ll find that the housing market is in one, major banks and investors are warning of one and Europe is heading for one. Over 80 financial advisers say a recession “is coming” and one bigwig investor believes that it’s going to be a “whopper”.
