Are We Heading Into a Recession?
Everyone and their grandma is talking about an imminent economic recession right now, and it does seem frightening . Even as I write this, I can just feel my entrails shivering in a cold sweat. Jokes aside, it would be wise of us to not take everything at face value when we read articles or opinion pieces on the Internet. Yes, we've all seen those sensational headlines that warrant some concern, such as the recent tech sector layoffs or Prime Minister Lawrence Wong warning that there is a multitude of potential uncertainties faced by the economy in his Singapore Budget 2023 speech. In this article, I'll be tackling the big questions that are on everybody's mind: Are we seriously heading into an economic recession? Or can everybody's concerns be dismissed as overblown pessimism? Source: iStock Firstly, I just want to point out there's actually no consensus on what constitutes a recession. Yes, that recession definition of having two or more...