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In a blog earlier this week I asked the question, what constitutes a green shoot? Perhaps we can add to the list baked bean sales. Apparently in a recession we buy more baked beans.
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As you can see in the graph above from the BBC the sales of baked beans have risen by 15% in the three months from April to June compared to the same period in 2008. This may sound quite high until we see the graph below showing the growth in sales for the three months to April this year compared with 2008.
As we can see the growth in sales of baked beans has fallen as have budget lines. Sales of inferior goods tend to fall as we move into a recovery and people chose other items which they are now able to afford.
This article explains further issues.
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