The chances of a recession are increasing worldwide. The US economy has been in a technical recession since the beginning of this year, defined as two consecutive quarters of contraction. This contraction is explained by corona-lockdowns and stock effects. To qualify as a real recession, a significant drop in economic activity is required and, judging by various indicators including the labour market, retail sales and industrial production, this is certainly not yet the case. There are an increasing number of indicators that point to an impending recession, but normally in the United States, it takes an average of ten months before a recession ensues. The Chinese economy also contracted in the second quarter, the result of strict corona controls that left cities such as Shenzen, Shanghai a