King says UK entering recession

a.jenery

This is from the BBC website, of a clip showing Mervyn King, governor of the BoE, explaining that the UK is entering a recession, see BBC NEWS | Business | King says UK entering recession

This came as a surprise to me, as I'm sure it did to many, seeing as the recent bank bailout (and I suppose this applies to the US and other nations) was supposed to end the recent credit crunch, which in turn was supposed to stop any recession. But is a recession on the way? Where I live, major supermarkets have just been refurbished, other smaller shops, etc, are being referbished, and I see more and more brand-new cars going around all the time. What do others think?

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a.jenery,
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