Procurement's banana-shaped recession

1 September 2009
For me, economics can be as dry as sand. It would appear I'm not alone, according to this story on the BBC website. You see, the clever economists dumb down carefully plotted movements in GDP and describe it as a letter. Our current recession, for example, has been predicted as being W shaped. This means we have slipped into a downward spiral entering the economic crisis, signs of improvement have seen output climb, but this growth is fragile and we are likely to slip downward again before fully recovering.  The metaphors don't end there, as some economists describe the economy as objects. Doug McWilliams, chief executive of the Centre for Economics and Business Research says the downturn is saxophone shaped, while Sir Martin Sorrell, the boss of ad firm WPP believes the economy resembles a bath tub. I wonder how procurement's increasing influence during the downturn could be described? Perhaps banana-shaped? Answers on a postcard.
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