For many of us there was a return to reality last week. Taking my two springer
spaniels for their early morning walks I noticed that there was a distinct
chill in the air. It won’t be long before those lazy sunrise strolls will be
replaced by dark, windy and wet morning slogs through the mud. Not that
George and Arthur will mind – for them the post-summer reality is just a
case of having even more fun.
On my walk to the railway station I could see sulky children, led by their
mothers, dragging their feet as they made their way back to school after
their six-week summer holiday. The fun for them is over for now.
The reality of recession also looms large. The headlines over the summer
months have been of economic green shoots and stock market bull runs. Sadly,
any idea that our economic woes will be a distant memory by the end of the
year has been quashed by the latest assessment from the Organisation for
Economic Co-operation and Development (OECD).
It says Britain will be the last of the major economies to exit recession. Our
economy is likely still to be stagnant at the end of the year. In stark
contrast, it believes other leading countries such as America will have
returned to strong growth. The British economy will shrink in the third
quarter and register zero growth in the fourth, while America’s will grow by
2.4pc in the fourth quarter and the eurozone’s will increase …
Read the original article at Telegraph
