Recession Watch

Households have been shielded from much of the Bank's tightening so far. That will soon begin to change.

My own preferred indictor of how bad things are getting for the British economy is flashing red. I have been on the radio 4 times this week and broadcast interest in me moves inversely to economic activity.

GfK’s measure of consumer confidence has a longer track record though, so it probably worth paying more attention to. The fall in the headline numbe…