spiral
In order to have a vibrant market economy, you've got to have lots and lots of consumers that are really capable of buying the products and services that are being produced. If you don't have that, then you run the risk of economic stagnation, or maybe even a declining economic spiral, as there simply aren't enough customers out there to buy the products and services being produced.

What does "economic spiral" mean? Does the writer mean "a declining economy in a spiral way"?

Thank you.

Question

spiral
In order to have a vibrant market economy, you've got to have lots and lots of consumers that are really capable of buying the products and services that are being produced. If you don't have that, then you run the risk of economic stagnation, or maybe even a declining economic spiral, as there simply aren't enough customers out there to buy the products and services being produced.

What does "economic spiral" mean? Does the writer mean "a declining economy in a spiral way"?

Thank you.

Answer

I think that what he means here is a decline with a constant downward trend, as in the deterioration of the economy leads to a sharper decline on the overall situation making it even harder to recover from, kind of like a vicious cycle, a spiral that is difficult to get off from.