Mortgage Monkey reveals the gibberish littering the industry’s press communications
BUSINESS SPEAK OF THE WEEK: ‘Negative growth’
CULPRIT: Economists everywhere
As regular readers of this column know, Mortgage Monkey is a strong believer in stripping out jargon, particularly from financial content where it frequently serves to confuse the typical man or woman on the street.
Many professionals employ opaque language to give the impression they know what they are talking about and deter any challenge, with most people typically too self-conscious to ask the obvious unanswered questions.
So why do economists still think it’s OK to say ‘negative growth’.
Negative growth is shrinkage, pure and simple. If you are growing negatively, you are getting smaller. Call it a ‘drop’, a ‘fall’, a ‘plunge’ or maybe just a ‘dip’, but please, economists everywhere, banish this pointless phrase.
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