According to the IMF, using the metric they used prior to 2009 (Global annual Real GDP growth of less than 3.0%) , there were global recessions in 1998 and 2001-03.
The metric was changed in 2009, and now four global recessions are recognized: 1975, 1982, 1991 and 2009.
Regardless, the Conservatives are no good at pretty much everything.
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