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It is hard to overstate the importance of productivity in driving improvements in living standards. Since 1850, UK GDP per head has risen 20-fold, transforming our standards of living. If productivity had remained flat over that period, GDP per head would only have doubled.

Economists overwhelmingly expect a recession in the next 12 months, according to a recent Wall Street Journal survey.

I suspect many recipients of today's briefing will respond with an automatic 'out of office' reply. August is traditionally the month when many British pack their bags and take a break.

Although some organisations believe there will be little or no change, a significant number anticipate an exodus of talent and other unforeseen consequences.

There are close economic ties between the UK and Germany – around 2500 German companies have a UK branch, employing 370,000 people.

In recent years, I have used my January article to try to make some sense of the year that has just passed and to posit some suggestions – which of course stop short of being precise predictions that I may have cause to regret – for the 12 months ahead.

History has often illustrated the power of the maxim, coined by the French socialist thinker, Auguste Comte, that "Demography is destiny".

History has often illustrated the power of the maxim, coined by the French socialist thinker, Auguste Comte, that "Demography is destiny".

Uncertainty about the global economy should begin to lift in November with the US presidential election and confirmation of China's new political leadership marking an important new phase for financial markets.

Before anyone gets the wrong idea – this is after all the Finance Column – I’m not about to stray into areas medical, psychological or spiritual.

Mark Boughey, recently appointed associate director in our Bristol office, provides a check list to guide you through the downturn.

We are certainly witnessing the most extraordinary of times in the world of finance. Almost every day brings fresh news of further stress in the financial system. The biggest financial institutions in the world appear crippled while the shortcomings of bailout plans by national governments are starting to become clear.

When I think back on the 16 years I spent in market research and consulting for the life sciences industry, much of my time was spent forecasting.

This article is the second in an ongoing series of blog posts by Foley & Lardner LLP on the implications of the June 23, 2016 referendum decision in the United Kingdom to exit the European Union.

I attended the excellent London Planning & Politics conference recently and joined a panel debating the key policy interventions to tackle London's housing crisis.

This article is the second in an ongoing series of blog posts by Foley & Lardner LLP on the implications of the June 23, 2016 referendum decision in the UK to exit the EU.

Western policy makers have been grappling with the global economic crisis and its legacy for eight years. Slow growth, deflation and austerity risk becoming the 'new normal' for many countries.