Is the UK economy on the verge of a Nike shaped recovery?
Over the last 18 months we have seen many new phrases and words introduced into the general financial markets but one which is starting to hit the headlines is the "Nike shaped" recession. We have had the V-shaped recession, the U-shaped recession and now we're looking at the Nike shaped recession. If you imagine the infamous Nike Tick which is emblazoned across every Nike product you will soon get the picture.
We saw the UK economy drop sharply into recession after the US-based credit crunch began to hit home, then there was a period of consolidation at lower levels and many economists now expect a slow gradual recovery over the months and years ahead. Whether the recovery will be at a speed which will assist the UK government as we approach the next general election remains to be seen, but many people are concerned about UK national debt and the general state of the economy at the moment.
Once this recession is over we will be able to look back over a period of time which is unlikely to be repeated in our lifetime. Even though many economies around the world did manage to avoid a depression there is no doubt that long-term damage has been done both to consumer finance and UK finance as a whole. But will we learn?
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