{"id":46563,"date":"2023-11-02T18:00:00","date_gmt":"2023-11-02T17:00:00","guid":{"rendered":"https:\/\/www.11onze.cat\/?p=46563"},"modified":"2023-11-03T17:01:51","modified_gmt":"2023-11-03T16:01:51","slug":"get-ready-for-the-next-great-recession-11onze","status":"publish","type":"post","link":"https:\/\/www.11onze.cat\/en\/magazine\/get-ready-for-the-next-great-recession-11onze\/","title":{"rendered":"Get ready for the next great recession"},"content":{"rendered":"
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Although forecasts of an imminent global recession, expected as early as 2022, have yet to be realised, sooner or later the inevitable economic cycle will be complete. Jeffrey Christian, a respected financial analyst at CPM Group, explains how we can reduce risky investments and protect our savings with safer assets.<\/b><\/h3>\n

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Half of Europe is in economic stagnation or contraction, with<\/span> eurozone countries’ GDP falling by 0.1% in the third quarter of the year<\/b>, leaving them on the brink of recession. Rising interest rates to try to contain inflationary pressures may not be enough if oil prices continue to rise due to geopolitical instability in the Middle East.<\/span><\/p>\n

On the other hand, robust third-quarter economic activity in the United States has been sustained by growth in consumer spending, despite prevailing high-interest rates. This spending has been supported by <\/span>an increase in consumer credit borrowing, especially in the use of credit cards<\/b>, which have seen an increase in defaults, raising concerns that this situation could spread to other debt instruments.<\/span><\/p>\n

In Spain, inflation rose by 3.5%, below the 3.8% expected, according to data published last week by the National Statistics Institute (INE). Inflation did not align with forecasts because the rise in energy prices was offset by lower domestic demand. Even so, <\/span>the Spanish economy is cooling, with growth of 0.3%, down from 0.4% in the previous month,<\/b> although it is holding up better than many economies in the rest of the European Union.<\/span><\/p>\n

It remains to be seen whether the resilience of these economies is such that the predictions of a recession expected since 2022 increasingly fade and a soft economic landing is achieved, or whether it simply prolongs what is inevitable for another year or two. Be that as it may, and leaving aside the reliability of the more immediate doomsday predictions, <\/span>there are some steps we can take to protect our investments and savings <\/b>in front of the current economic uncertainty.<\/span><\/p>\n

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