By Paul Ormerod The intriguing factor governing low household spending isn’t mortgages or energy prices, argues Paul Ormerod, but saving… News that we have entered a technical recession will come as no surprise to anyone who has even a passing acquaintance with the British economy. But what is less well understood is how personal spending – or rather the lack of it – is contributing to low growth. Household incomes have been squeezed by rises in energy prices and mortgage rates. But that’s not the whole story. Wage increases and falling inflation have offset some of these pressures, with real …