On the brink

Third quarter GDP is in today and shows a fall of 0.5%. The previous quarter was flat at 0%.

Technically a recession is 2 consecutive quarters of negative growth, so we are not in a technical recession yet.

Most people on the street know that we are in a downturn. It does not matter if it is called a recession or not.

What is not in doubt is that the fourth quarter will show another fall and a technical recession.