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Insights for the Food and Grocery Industry

Though the pandemic woes seem to be over, several threats like inflation, labour shortage and supply chain disruption persist to exist. McKinsey’s latest report highlighted the sentiments and hopes of executives about the pandemic and economic recovery of their nations. From January 2021 to October 2021, executive respondents felt sceptical about economic instability. But overall, the sentiments remain resilient and optimistic regarding recovery. Respondents from developed economies cited the pandemic, supply chain issues and asset bubbles more than their peers. While developing nations fought more with the labour shortage, inflation and weak demand. In early 2020, respondents’ outlook was gloomier and filled with pessimism. They talked about declining company profits. North American region saw deteriorating economic condition in July. From September to the end of 2020, respondents became increasingly positive, and things started getting rosier.

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