After the main course (2005-8 oil price spike and ensuing financial collapse), and going back for seconds (2011-12 oil price spike), we now get that delicious desert - the 'double dip'.
Though if you look at the graph in this article, you can see that on average the UK has been in recession for 4 years. It's just the 'technical definition' that needs to consecutive quarters of economic contraction.
And of course energy prices are staying high at the moment, and will continue to do so unless economic activity slows down globally, so we're pretty much stuck with the situation.
Mike
Wednesday, 25 April 2012
Double dip for anyone?
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