Let's be honest we're already in a horrendous recession we just haven't realised yet because there's thousands of zombie companies and jobs being kept artificially alive by furlough and associated schemes (not criticising that btw). Once that support is withdrawn, as it must be eventually, those losses will crystallise. We're not alone in this, pretty much every Western economy has the same problem. We're likely to be harder than most though, according to sources as diverse as the OECD, the FT and the Telegraph
Point taken, just picked up from Private Eye...
-9.1% change in GDP of Greece in 2011 at height of their debt crisis;
-17.0% Change in GDP of Zimbabwe in 2003 after sanctions imposed;
-20.4 Change in GDP of UK in April this year.
