Nine in 10 UK retail chairs expect consumer spending to fall over next year

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Ninety-five per cent of UK retail chairs forecast a drop in shopper spending over the next year, as Boots’ parent company chair Stefano Pessina said the UK would likely have a “bigger” recession than other EU countries.

The vast majority of UK retail chairs said they expected the decline in spending to be exacerbated by supply chain issues and the war in Ukraine triggering further rises in inflation.

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