![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjOvFhJSb7nGWxokzqAQ5J62D9GvJy_wQ8rN5MtmoGrDGOtLC0yylrP6qP6f0hYhV7Ot94OHZ9ohe7MwuE5l0eUqcUbVHlHVGrHr7UQptfGmlAnNh4SvR5AOpjRMpIpJI21kO5pjiAFwwI/s400/_1528658_recession_300.jpg)
No one can really make their mind up as to whether the UK economy is approaching recession or not.
A recession, as economists keep reminding us, is when output falls for two successive quarters.
But economic statistics are one thing. Most people's definition of a real slump is when the bad times start to lap up to their own front door.
In any case, few people are satisfied with the way we and almost every other country measure our success - rises in gross domestic product, or economic output.
Economists would love to come up with some measure of contentment or security, an index that mixes our monetary wealth with factors calculating happiness, creativity or fulfilment.