Boots boss Seb James has predicted a recession is on its way, but are his fears of an economic downturn well grounded?
James warned that “storm clouds are gathering” at the launch of the retailer’s new-format store in Covent Garden last month.
“We currently have a fairly unusual political situation,” said James. “I think we’re due a cyclical recession.”
Since he made his statement, the idea that a recession is on its way has gained increasing credence among financial experts.
Some have warned the UK could have entered a technical recession. This week, the National Institute of Economic and Social Research (NIESR) thinktank said there is a one-in-four chance the country is already in a recession.
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