Will we see a second wave of recession? What can we expect from the economy in the coming year? Bankers, industrialists, economists and ordinary people would all like to know the answer to this question.
A growing number of experts are inclined to think that a repetition of a recession is possible. Recently the Guardian newspaper published an article entitled “UK recession even deeper than first thought, the reporter writing: “Six successive quarters of negative economic growth from spring 2008 until autumn 2009 were the toughest for the economy since the Great Depression of the 1930.
“Growth resumed in the final three months of 2009 as the UK economy responded to the emergency cuts in interest rates, the cheaper pound and higher government spending,” they report.
Later in the article, the Guardian explains: “Consumer spending fell slightly in the first three months of 2010, with individuals running down their savings in order to finance purchases.”
Jeremy Cook, chief economist at World First, said: “Although the headline figure remained unchanged at 0.3%, government spending was revised up from 1.1% to 1.5% signifying that the recovery is still very reliant on state spending and that consumers are not stepping up to the plate quite yet.”
Russia, recovering after similar problems with recession, has lost eight positions in the ranking AT Kearney over the last year. “The global index of the retail market fell to tenth place in the list of countries attractive to foreign retailers”, writes the online newspaper Business Petersburg.
You do not need to be an expert to understand that the crisis continues. The recent bankruptcy of travel agencies in the UK and Russia is evidence of that, with thousands of tourists held hostage by the economic problems of these companies.
Preparing for the Olympic Games is difficult because of the economic problems of our countries. Both the governments of Russia and the UK have been forced to cut the budget.
It is clear that the economies of Russia and Britain are facing many similar problems. In the business part of London and Moscow are the same signs: office rent, lease, rent large area in rent, selling.
The position of experts may be different. Some hold a positive view, while others predict a second wave of recession. But it is clear that while the economy is recovering, European states have some way to go.