GEAB 178
One year on from the global recession: Navigating the new economy
In September, JP Morgan’s monthly Global Manufacturing PMI recorded the twelfth consecutive global recession[1]. Just as we anticipated with inflation, recession is a lasting trend. We are entering a new economy in which a return to high interest rates (the norm), shortages and difficulties of access to skilled labour, natural resources and raw materials, are putting an end to the development enjoyed by the Western economies, and from which the rest of the world benefited in the second half of the 20th century until the early 2000s, and which found itself on a drip-feed of debt after the 2008 crisis.
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