A recession is a period with a significant decline in economic activity characterised by falling GDP, rising unemployment and a decline in real incomes. A quick and simple definition of a recession (used in the UK and EU) is – negative economic growth for two consecutive quarters. The US uses a more comprehensive definition of …
When I started teaching economics in the early 2000s, I remember quite a few commentators predicting imminent house price falls because house prices were overvalued by historical trends, I used to occasional dip into house price crash forums to see a debate about when prices would fall. Yet, since 2000, even accounting for the financial …
Latest UK housing market stats and graphs. Including house prices, Price to income ratios and construction of new housing.
Huge volumes of waste are sent to landfill every year. In 2018, the US created 292.4 millions tons of trash, of which nearly half 146 million tons ended in landfill. In recent years, much effort has gone into encouraging people to recycle, and rates of recycling have increased significantly (in the US from 9% (1980) …
Readers Question: As the cause of inflation to a large part is down to energy costs, if they are temporary, will we see large deflation if we see a return to something close to ‘normal’? Typically deflation would be a bad thing, but in this case would it be? Firstly, you are correct a large …
In March 2022, the EU, US and other western countries introduced a range of sanctions on the Russian economy. These sanctions have hurt the Russian economy, but they are also causing unprecedented strain on the West and Europe in particular. The big economic threat to Europe involves: Higher inflation from rising energy prices Threat of …
A recession is defined as a period of negative economic growth. However, there can be different causes and types of economic contraction. Different types of recession will influence the length, depth and effects of the recession. These are some of the different types of recessions. Boom and bust recession (e.g. UK 1991/92) – Very high …
In the aftermath of the invasion, the Russian Ruble rallied, becoming one of the best-performing currencies in the world. This perplexed many commentators, who assumed sanctions on Russia would lead to rapid economic deterioration. But, the strength of the Russian Ruble masks the underlying reality. The high value of the Ruble was due to stringent …