March 2023
OUTLOOK
In the first two months of the year retail in major markets has exceeded expectations -albeit expectations for early 2023 were very low with analysts warning of a recession.Economists are still wary, but consumers are still shopping. An unseasonably warm winter in Europe saved consumers from budget crushing energy bills. In the U.S. lower gas prices helped consumers.
In both the EU and US inflation slowed -and central banks slowed the pace of rate hikes.Still … just about everyone, from brands to consumers, feels that a recession could be looming.
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