I can't remember who 'they' are, but I definitely heard it on the news.
It's not a great surprise looking at what's going on with prices of stuff but it's not very good is it.
There ends my amazingly insightful economic report.
How would a recession affect you? Personally, I'd be a bit worried about losing my job seeing as I'm in an already-struggling sector and I'm relatively new here... Hopefully things will take a turn for the better soon.