With regard to being in recession I can say without doubt Yes. The first to feel the pinch are the new traders selling expensive and unessasary goods.
We have a hotel and although turnover is up We have had a marked decline in heads thruogh the door this year. people are just not spending money! or have now reached max borrowing on credit cards/ remortgaging etc. So now the country is in economic down turn people are S##ting them selves.