Ina Opperman
Business Journalist
5 minute read
23 Jun 2022
5:40 pm

All signs point toward a looming global recession

Ina Opperman

If it feels like things are bad, it's because they are, and they're likely to get a lot worse soon.

Image: iStock

It would appear that it is now longer a question of if global recession is on the cards, but simply a matter of when. Concerns about a global recession have been on the increase, and with good reason, as the economic downturn looks increasingly similar to the high inflation of the late seventies and the big oil shock of the early eighties. According to the International Monetary Fund, there is no official definition of recession, but it is generally recognised that the term refers to a period of decline in economic activity. Most commentators and analysts use, as a practical...