The bond yield curve on UK government debt inverted on Wednesday for the first time since the global financial crisis.
In what is sometimes seen as a precursor of recession, the yield on the 10-year gilt fell below the yield on the two-year gilt shortly for the first time since August 2008.
That's after our GDP contracted by -0.2% in Q2 (vs. expanded by +0.2% in the Eurozone).
@tradertalldo not worry about all that cods wallop it said we are doing well on the BBC
That's the spirit @123kingarthur - people just believe what they want to believe. Being an optimist - I'll go for this view. Could be just as rubbish as all the others, but I prefer the positive outlook.
Perhaps even more marrying is that the US did the same and the last 3 times this happened US recessions soon followed.
Whilst UK wage growth is still going up it is still not on a par with pre 2008 levels which explains why those at the lower end of the pay scale are still struggling. The rise was also skewed by a bump to public sector worker pay. Also in that article is an unexpected rise in the CPI and the higher RPI has been used to justify a bigger rise in rail fares.
On the plus side unemployment figures are good but those ugly zero hour contracts means workers are vulnerable, particularly if we head into a recession.
Not all a bed of roses but not all doom and gloom either. Would another US recession be as bad globally as the last one?