• A recession is still on the cards
  • Sentiment is still really poor, burdened by high inflation
  • The good news is that supply bottlenecks have eased significantly
  • It is a good sign in August but no all-clear just yet

I think one of the more damning remarks is that he mentions almost half of the businesses surveyed are aiming to raise prices even further in the coming three months. Put that together with soaring energy prices and it will continue to make for a tough consumer outlook going into winter.

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