It is expected that general business conditions will slowly improve over the next 12 months. This includes for the discretionary goods and services business niche. Potential mortgage rate reductions, tax cuts and wages growth forecasts going forward are key drivers to improving demand. However, there is likely to be moderate improvement only and not to the levels of extraordinary consumer spending in 2020/2021 and 2021/2022. At some point in time, business purchasers are expected to recognise improvement in
- discretionary consumer businesses
- and stronger purchaser demand for them should follow.
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