Much publicity has recently been given to sightings of the 'green shoots' of economic recovery. Unfortunately, virtually all sightings are ambiguous with any number of commentators giving equally large numbers of interpretations. Economists have developed half an alphabet of recovery options ranging from the optimists 'V featuring a rapid decline followed by an equally rapid recovery, to the pessimists long 'L' where the economy, having crashed down, remains on a low plateau for an extended period.
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