The longer economists and the government wait to recognise we’re in recession the harder it will be to deal with

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As the FT notes this morning, Amazon's sales growth has disappeared:

As Danny Blanchflower and I keep saying, this is because we are already heading for, and may actually already be in, recession.

It's not rocket science to note that if spending is slowing, or falling, as just about every indicator suggests to be the case now, this must be true.

There is, however, still denial from the government and few economists are acknowledging this obvious truth. That will just make dealing with the issue more painful by the time they get around to doing so.

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