In an interview with The Daily Express, Clearly’s managing director, Paul MacKenzie-Cummins, was asked for his thoughts on how the rising cost of living and inflation will impact the economy in the coming months.
Never one for joining the ranks of the doom and gloom brigade, Paul said that while he does believe a recession is on its way it would be unfair to rank it alongside that of 2008.
Here is what he said:
“I believe many commentators will be prone to arguing against the notion of an impending recession, but all the signs we have seen in recent weeks point to one looming by the end of this year at the latest.
“However, I doubt it will be the same as the doom and gloom we experienced in 2008.
“There is still plenty more potential growth within the economy in the pipeline over the coming months.
“This, I believe won’t prevent us from sliding into recession but it will likely enable it to be short-lived with an almost immediate bounce back shortly thereafter.”
You can read the full article in The Daily Express via https://www.express.co.uk/finance/personalfinance/1595611/uk-recession-inflation-cost-of-living-crisis-evg