Mike's Minute: Recession or not? It feels like it

Best of Business · Jun 12, 2023 · 2m

I think we can ask the question of how much is enough, given the numbers we have given you of late.

Government expenditure is up 596 percent and income i.e tax take, is up 334 percent. As a result of that, the debt is up 482 percent.

If all of that isn't enough, what is?

The economy this week gets its Q1 read on GDP. In other words, what we did in January, February and March.

The importance of it, is it needs to be a positive number. If it isn't a positive number that will mean we are officially in a recession, because the last quarter of last year went backwards by 0.6%.

Now, there's a…