let s speak to james smith, developed markets economist at ing. people are talking of a mild recession. what does that mean? quite often when we talk about recessions and the gdp numbers we think of two courses of negative growth being a technical recession. but that doesn t always feel like a recession to people. when we see a recession to people. when we see a recession we associate it with widespread job losses, people spending less money, people trying to save more, because they re uncertain about what is to come. we are not necessarily seeing that now. the fall in gdp we saw in the third quarter was small, we might see another slight fall in the fourth quarter. but it is not comparable to recessions in the past such as 2008 and the covid recession. so it is worth putting that in context. fix, worth putting that in context. a recession is two sets of three months where growth has been negative. in terms of what it means for people, what will this mean? the uk economy is
a mild recession . earlier i spoke to james smith. so we talk about recessions and the gdp numbers. us economists, we often think of two quarters of negative growth has been what we might call a technical recession. but i think it s worth remembering that doesn t always feel like a recession to people. often when we see a recession, we associate that with maybe widespread job losses, people spending a lot less money, people, you know, trying to save more because they re uncertain about what s to come. we re not necessarily seeing all of that right now. and of course, the fall in gdp we saw in the third quarter was very small, 0.i. we might see another slight fall in the fourth quarter, but it s not comparable to, you know, some of the famous recessions we ve seen in the past, 2008, of course, the covid recession as well. so it s worth putting that in context. just to let people know what recession is, it s two sets of three months. we ve seen growth negative in terms of wha
Snoe. Good morning. Happy friday. Im sara eisen. It is you in the flesh. I could not miss new music friday on Worldwide Exchange. You missed throwback thursday. What was the theme . Country music. Glad i missed that. Im wilfred frost. Its new music friday. Starting off with maroon 5s latest song called cold. Im sorry, elton john doesnt have any new music for you. I think he does. Just plummeted straight away. Only loyal fans like me subscribe. Lets get to the Market Action. A check on Global Markets, after a pause in the trump rally, reflation rally yesterday. Just a minoral iso al iselloff. S p down about 5 points. Dow jones down about 50. Nasdaq down about 10. What we saw in fixed income and Foreign Exchange brought the tenyear yield down to 2. 42. Inching around 2. 50. Unclear why. We got better Economic Data. Feels like a pause in the action. In terms of those record highs, theres been so many of them during the course of the week, one gets that sense of euphoria from the headlines
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