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Podcast: Beyond Currency
Episode: 7 December 2022 - Economy most likely already in recession
Description: One of the keys to the potential depth of the recession that may have already begun is the weakness of the housing market and how much average house prices will fall across the entire country.
Every sector of the economy feeds into the housing market; employment, productivity, output, manufacturing, import of goods and lending. It is a key barometer of the health, or otherwise, of the economy.
The latest data shows that although prices are continuing to rise, the size of the increase, reported monthly, is falling. Last month it fell from 8.6% to 7.4%.
That fall is likely to fall into...