The Sun Is Shining

But life can still suddenly slide downwards.

You know that whole recession thing? And how it's so totally like looking up? Well....it's not in fact we're even more screwed than before. Let's evaluate!

1. In the last quarter the UK economy has shrunk 1.9% --> this is considerable in fact it's the furthest it has shrunk since the third quarter of 1979. This sucks, it means we are pretty much falling faster and further than anyone else. Karma for not suffering the 2001 recession? You betcha!
2. The quarter before that the economy shrank 1.6% which prompted experts to guess this quarter would result in a 1.5% shrinkage - which means we are falling past predictions. Not a good sign.
3. In the past year (March '08 to March '09) GDP has fallen 4.1%, the worst annual decline since 1980. The chancellor is borrowing a MASSIVE £175bn this year. He now predicts GDP will fall another 3.5% in the next year.

However it's not all doom and gloom guys because Darling has surprised everyone, experts included, by predicting that we will be in growth by the end of the year, will rise 1.25% in 2010 and 3.5% in 2011. Wonder how long that will last! I'm taking bets....