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Cost of living crisis? Consumers keep spending for now

Consumer-focused firms are seeing no shortage of demand despite the soaring cost-of-living, prompting several to upgrade sales forecasts for the current year, though questions remain about how long that will last.

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The global economy is mired in a serious slowdown, with some key economies at high risk of recession over the coming year, according to Reuters polls of hundreds of economists worldwide. "There is a real concern that demand may be weakening, which will make it hard to justify further price hikes," said Nick.